Gallacher Capital Management LLC Decreases Stock Position in Lockheed Martin Corporation $LMT

Gallacher Capital Management LLC lowered its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 72.0% during the third quarter, HoldingsChannel reports. The firm owned 537 shares of the aerospace company’s stock after selling 1,382 shares during the period. Gallacher Capital Management LLC’s holdings in Lockheed Martin were worth $268,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LMT. Barnes Dennig Private Wealth Management LLC lifted its holdings in Lockheed Martin by 285.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after buying an additional 40 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth about $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Lockheed Martin in the second quarter worth about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Lockheed Martin in the second quarter valued at about $29,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Lockheed Martin during the 3rd quarter valued at approximately $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $492.00 to $611.00 and gave the company a “hold” rating in a research report on Friday, January 30th. DZ Bank cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target on the stock. in a report on Tuesday. Morgan Stanley set a $675.00 price objective on shares of Lockheed Martin in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Lockheed Martin from $540.00 to $630.00 and gave the stock a “hold” rating in a research report on Sunday. Finally, Susquehanna reaffirmed a “positive” rating and set a $660.00 price target on shares of Lockheed Martin in a research report on Thursday, January 15th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $608.72.

Lockheed Martin Trading Up 0.8%

Lockheed Martin stock opened at $607.54 on Friday. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $646.59. The firm’s 50-day moving average is $522.92 and its 200-day moving average is $484.97. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09. The company has a market cap of $139.78 billion, a P/E ratio of 28.27, a PEG ratio of 1.37 and a beta of 0.23.

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

Lockheed Martin Company 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.