Ledyard National Bank Trims Stake in Lockheed Martin Corporation $LMT

Ledyard National Bank reduced its stake in Lockheed Martin Corporation (NYSE:LMT) by 93.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 403 shares of the aerospace company’s stock after selling 5,500 shares during the quarter. Ledyard National Bank’s holdings in Lockheed Martin were worth $201,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LMT. Barnes Dennig Private Wealth Management LLC boosted its position in shares of Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 40 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at $27,000. Mid American Wealth Advisory Group Inc. bought a new position in Lockheed Martin in the 2nd quarter worth $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Lockheed Martin in the 2nd quarter worth $29,000. Finally, Frazier Financial Advisors LLC bought a new stake in Lockheed Martin during the second quarter valued at about $34,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LMT. DZ Bank lowered Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price objective for the company. in a research note on Tuesday, February 3rd. Sanford C. Bernstein reissued a “market perform” rating and issued a $654.00 price target on shares of Lockheed Martin in a report on Friday. Wall Street Zen lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Sunday. BNP Paribas Exane lifted their price objective on shares of Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Finally, Robert W. Baird upped their target price on shares of Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Stock Up 2.3%

NYSE LMT opened at $623.25 on Friday. The stock has a 50 day moving average price of $526.24 and a 200-day moving average price of $486.62. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $646.59. The company has a market capitalization of $143.40 billion, a P/E ratio of 29.00, a P/E/G ratio of 1.42 and a beta of 0.23. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the company earned $7.67 EPS. Lockheed Martin’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.