Retirement Systems of Alabama Sells 2,014 Shares of Lockheed Martin Co. (NYSE:LMT)

Retirement Systems of Alabama lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,663 shares of the aerospace company’s stock after selling 2,014 shares during the quarter. Retirement Systems of Alabama’s holdings in Lockheed Martin were worth $22,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management grew its position in shares of Lockheed Martin by 3.1% in the 3rd quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock worth $296,000 after buying an additional 22 shares during the last quarter. Abbrea Capital LLC increased its position in shares of Lockheed Martin by 1.7% during the third quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock worth $571,000 after purchasing an additional 23 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Lockheed Martin by 1.6% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock valued at $584,000 after purchasing an additional 23 shares during the last quarter. Duncker Streett & Co. Inc. lifted its holdings in shares of Lockheed Martin by 1.2% during the 3rd quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock valued at $823,000 after purchasing an additional 24 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA boosted its position in shares of Lockheed Martin by 0.7% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 3,375 shares of the aerospace company’s stock worth $1,380,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 1.4 %

NYSE LMT opened at $467.56 on Tuesday. The company has a fifty day moving average of $444.61 and a 200 day moving average of $444.82. The company has a market capitalization of $112.19 billion, a PE ratio of 17.11, a P/E/G ratio of 4.22 and a beta of 0.48. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $479.50.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.43 EPS. Research analysts forecast that Lockheed Martin Co. will post 26.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the transaction, the insider now owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,874 shares of company stock worth $7,249,946. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LMT shares. UBS Group increased their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. Finally, Susquehanna cut their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average target price of $485.40.

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.