Resona Asset Management Co. Ltd. Sells 3,467 Shares of Lockheed Martin Corporation $LMT

Resona Asset Management Co. Ltd. trimmed its position in Lockheed Martin Corporation (NYSE:LMT) by 4.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 72,978 shares of the aerospace company’s stock after selling 3,467 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Lockheed Martin were worth $36,355,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LMT. Old North State Wealth Management LLC lifted its stake in Lockheed Martin by 2.0% in the third quarter. Old North State Wealth Management LLC now owns 1,073 shares of the aerospace company’s stock worth $539,000 after acquiring an additional 21 shares during the period. Investment Advisory Services Inc. TX ADV increased its position in Lockheed Martin by 4.7% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company’s stock valued at $225,000 after purchasing an additional 22 shares during the period. Broadway Wealth Solutions Inc. raised its holdings in shares of Lockheed Martin by 4.5% in the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company’s stock valued at $237,000 after purchasing an additional 22 shares in the last quarter. Plancorp LLC lifted its position in shares of Lockheed Martin by 2.6% in the 2nd quarter. Plancorp LLC now owns 912 shares of the aerospace company’s stock worth $422,000 after purchasing an additional 23 shares during the period. Finally, Fairvoy Private Wealth LLC boosted its stake in shares of Lockheed Martin by 3.1% during the second quarter. Fairvoy Private Wealth LLC now owns 775 shares of the aerospace company’s stock valued at $359,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on LMT. Royal Bank Of Canada upped their target price on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. The Goldman Sachs Group boosted their target price on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a research note on Friday, October 10th. Susquehanna restated a “positive” rating and set a $660.00 price target on shares of Lockheed Martin in a research note on Thursday, January 15th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $515.00 price objective (up from $465.00) on shares of Lockheed Martin in a report on Friday, December 19th. Finally, UBS Group raised their target price on shares of Lockheed Martin from $513.00 to $580.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $543.82.

Lockheed Martin Stock Down 0.6%

Shares of NYSE LMT opened at $590.30 on Friday. The firm has a market cap of $136.59 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.24. The company’s 50-day simple moving average is $495.94 and its 200-day simple moving average is $475.95. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $596.22.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The firm had revenue of $18.61 billion for the quarter, compared to analyst estimates of $18.45 billion. During the same period last year, the company posted $6.84 EPS. Lockheed Martin’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

About Lockheed Martin

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.