abrdn plc Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

abrdn plc grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 53,474 shares of the aerospace company’s stock after purchasing an additional 113 shares during the quarter. abrdn plc’s holdings in Lockheed Martin were worth $24,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in Lockheed Martin by 73.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 27 shares during the period. Activest Wealth Management increased its stake in Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares during the period. Milestone Investment Advisors LLC purchased a new stake in Lockheed Martin during the third quarter worth about $33,000. Providence Capital Advisors LLC purchased a new stake in Lockheed Martin during the third quarter worth about $35,000. Finally, Iron Horse Wealth Management LLC increased its stake in Lockheed Martin by 1,925.0% during the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 77 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 Securities & Exchange Commission, which is available at this link. In other news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares in the company, valued at $5,434,718.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,874 shares of company stock worth $7,249,946. 0.14% of the stock is owned by insiders.

Lockheed Martin Stock Performance

Shares of LMT opened at $459.99 on Wednesday. The stock has a 50 day moving average price of $441.34 and a 200 day moving average price of $444.04. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53. The company has a market capitalization of $110.62 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $483.53.

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

Wall Street Analyst Weigh In

LMT has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday. Royal Bank of Canada lowered their price objective on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. Morgan Stanley lowered their price objective on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Susquehanna lowered their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $475.80.

Lockheed Martin 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.