IFM Investors Pty Ltd Purchases Shares of 8,475 Lockheed Martin Co. (NYSE:LMT)

IFM Investors Pty Ltd purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 1st quarter, HoldingsChannel reports. The fund purchased 8,475 shares of the aerospace company’s stock, valued at approximately $3,855,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mezzasalma Advisors LLC acquired a new position in Lockheed Martin in the first quarter worth approximately $231,000. FORVIS Wealth Advisors LLC grew its holdings in shares of Lockheed Martin by 10.9% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 1,113 shares of the aerospace company’s stock worth $506,000 after acquiring an additional 109 shares during the last quarter. Everett Harris & Co. CA raised its position in shares of Lockheed Martin by 0.4% during the first quarter. Everett Harris & Co. CA now owns 60,392 shares of the aerospace company’s stock worth $27,471,000 after purchasing an additional 269 shares during the period. Veracity Capital LLC lifted its holdings in shares of Lockheed Martin by 4.3% during the first quarter. Veracity Capital LLC now owns 2,691 shares of the aerospace company’s stock valued at $1,224,000 after purchasing an additional 111 shares during the last quarter. Finally, American National Bank & Trust Co. VA acquired a new position in shares of Lockheed Martin in the 1st quarter valued at $905,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upgraded 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 report on Monday, April 15th. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Susquehanna dropped their price target 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. Citigroup increased their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group dropped their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Stock Performance

LMT stock traded down $3.49 during trading on Friday, reaching $461.29. 857,964 shares of the stock were exchanged, compared to its average volume of 1,102,151. The stock has a 50 day simple moving average of $443.74 and a 200-day simple moving average of $444.46. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 2.89. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $479.50. The company has a market capitalization of $110.68 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 4.25 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same period in the prior year, the company posted $6.43 earnings per share. Lockheed Martin’s revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.05 earnings per share for the current year.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction 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 related news, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction dated Tuesday, March 5th. The shares were 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 approximately $5,434,718.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last three months, insiders sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.17% of the company’s stock.

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.