Farmers Trust Co. Cuts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Farmers Trust Co. lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,747 shares of the aerospace company’s stock after selling 59 shares during the period. Farmers Trust Co.’s holdings in Lockheed Martin were worth $1,070,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CSat Investment Advisory L.P. raised its stake in Lockheed Martin by 2,992.9% during the second quarter. CSat Investment Advisory L.P. now owns 433 shares of the aerospace company’s stock worth $158,000 after purchasing an additional 419 shares during the period. MainStreet Investment Advisors LLC grew its holdings in Lockheed Martin by 3.5% during the 3rd quarter. MainStreet Investment Advisors LLC now owns 16,859 shares of the aerospace company’s stock valued at $6,576,000 after purchasing an additional 569 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Lockheed Martin by 7.2% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 1,603 shares of the aerospace company’s stock valued at $625,000 after purchasing an additional 108 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Lockheed Martin by 122.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 5,013 shares of the aerospace company’s stock valued at $1,955,000 after purchasing an additional 2,761 shares in the last quarter. Finally, Evoke Wealth LLC acquired a new stake in Lockheed Martin during the 3rd quarter valued at $98,000. 78.42% of the stock is currently owned by institutional investors.

NYSE LMT traded up $4.81 during trading hours on Wednesday, reaching $420.95. 833,048 shares of the company traded hands, compared to its average volume of 1,424,715. Lockheed Martin Co. has a 12 month low of $270.63 and a 12 month high of $421.48. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 3.21. The stock has a market capitalization of $117.40 billion, a PE ratio of 23.58, a PEG ratio of 2.41 and a beta of 0.94. The company has a 50 day moving average of $394.71 and a two-hundred day moving average of $381.92.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, beating the Zacks’ consensus estimate of $5.02 by $0.64. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The firm had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $14.87 billion. During the same period in the prior year, the firm posted $5.14 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Lockheed Martin Co. will post 21.62 earnings per share for the current year.

Lockheed Martin declared that its board has approved a share buyback plan on Thursday, September 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts recently weighed in on the stock. ValuEngine lowered shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Morgan Stanley raised their price target on shares of Lockheed Martin from $364.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Credit Suisse Group lowered their price target on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Barclays reaffirmed a “hold” rating and set a $410.00 price target on shares of Lockheed Martin in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Lockheed Martin presently has a consensus rating of “Hold” and a consensus price target of $387.91.

About Lockheed Martin

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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