Price Capital Management Inc. Reduces Stake in Lockheed Martin Co. (NYSE:LMT)

Price Capital Management Inc. trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 97.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100 shares of the aerospace company’s stock after selling 3,233 shares during the quarter. Price Capital Management Inc.’s holdings in Lockheed Martin were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Nuveen Asset Management LLC purchased a new position in Lockheed Martin in the second quarter valued at about $652,536,000. Johanson Financial Advisors Inc. boosted its stake in Lockheed Martin by 39,049.2% in the fourth quarter. Johanson Financial Advisors Inc. now owns 1,390,972 shares of the aerospace company’s stock valued at $3,574,000 after acquiring an additional 1,387,419 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in Lockheed Martin by 4,226.7% in the second quarter. Marshall Wace North America L.P. now owns 176,877 shares of the aerospace company’s stock valued at $64,302,000 after acquiring an additional 172,789 shares during the last quarter. California Public Employees Retirement System boosted its stake in Lockheed Martin by 14.8% in the third quarter. California Public Employees Retirement System now owns 1,175,837 shares of the aerospace company’s stock valued at $458,647,000 after acquiring an additional 151,338 shares during the last quarter. Finally, Voleon Capital Management LP purchased a new position in Lockheed Martin in the second quarter valued at about $43,625,000. Hedge funds and other institutional investors own 78.42% of the company’s stock.

Shares of LMT stock traded up $3.77 during trading on Thursday, reaching $424.72. 513,418 shares of the company’s stock traded hands, compared to its average volume of 1,100,078. The company has a market capitalization of $117.38 billion, a P/E ratio of 23.79, a PEG ratio of 2.42 and a beta of 0.94. 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 firm’s 50-day moving average is $395.27 and its 200 day moving average is $382.23. Lockheed Martin Co. has a 1 year low of $270.63 and a 1 year high of $421.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results 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. The company had revenue of $15.17 billion for the quarter, compared to analysts’ expectations of $14.87 billion. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. Lockheed Martin’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.14 EPS. As a group, sell-side analysts predict that Lockheed Martin Co. will post 21.62 earnings per share for the current fiscal year.

Lockheed Martin announced that its board has authorized a share buyback program on Thursday, September 26th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

A number of research firms have weighed in on LMT. Barclays reiterated a “hold” rating and issued a $410.00 target price on shares of Lockheed Martin in a research note on Wednesday, October 9th. UBS Group boosted their target price on shares of Lockheed Martin from $440.00 to $470.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of Lockheed Martin from $364.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Credit Suisse Group dropped their price target on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Lockheed Martin presently has an average rating of “Hold” and an average price target of $387.91.

Lockheed Martin Company 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. 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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