GAMMA Investing LLC Acquires Shares of 1,605 Lockheed Martin Co. (NYSE:LMT)

GAMMA Investing LLC acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,605 shares of the aerospace company’s stock, valued at approximately $689,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Herold Advisors Inc. lifted its holdings in Lockheed Martin by 8.6% during the third quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock valued at $1,410,000 after purchasing an additional 274 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Lockheed Martin by 3.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock valued at $8,624,000 after purchasing an additional 770 shares during the period. Alethea Capital Management LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at approximately $415,000. Meridian Wealth Management LLC lifted its stake in Lockheed Martin by 149.0% in the third quarter. Meridian Wealth Management LLC now owns 11,960 shares of the aerospace company’s stock worth $4,892,000 after acquiring an additional 7,156 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in Lockheed Martin by 6.4% in the third quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock worth $4,784,000 after acquiring an additional 700 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.3 %

NYSE:LMT traded down $1.34 during trading hours on Tuesday, hitting $459.99. The stock had a trading volume of 1,789,251 shares, compared to its average volume of 1,176,603. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $483.53. The business has a 50 day simple moving average of $440.67 and a two-hundred day simple moving average of $443.62. The company has a market cap of $110.62 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 4.23 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 EPS for the quarter, beating the consensus estimate of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The company had revenue of $18.87 billion during the quarter, compared to analysts’ expectations of $17.96 billion. During the same period in the prior year, the business posted $7.79 EPS. The business’s revenue was down .6% on a year-over-year basis. Analysts predict that Lockheed Martin Co. will post 26.13 EPS for the current year.

Insider Buying and Selling

In other news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. Insiders have sold 16,874 shares of company stock worth $7,249,946 over the last ninety days. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on LMT. Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their target price for the company from $475.00 to $518.00 in a report on Monday, April 15th. Citigroup dropped their price objective on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. Finally, UBS Group dropped their price objective on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $475.80.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.