Orleans Capital Management Corp LA Sells 20 Shares of Lockheed Martin Co. (NYSE:LMT)

Orleans Capital Management Corp LA trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,565 shares of the aerospace company’s stock after selling 20 shares during the quarter. Lockheed Martin accounts for 2.2% of Orleans Capital Management Corp LA’s holdings, making the stock its 11th largest holding. Orleans Capital Management Corp LA’s holdings in Lockheed Martin were worth $3,534,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Aveo Capital Partners LLC boosted its position in Lockheed Martin by 4.1% in the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock valued at $300,000 after buying an additional 26 shares in the last quarter. Evoke Wealth LLC boosted its position in Lockheed Martin by 28.8% in the fourth quarter. Evoke Wealth LLC now owns 670 shares of the aerospace company’s stock valued at $304,000 after buying an additional 150 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Lockheed Martin by 10.8% in the fourth quarter. Jones Financial Companies Lllp now owns 20,442 shares of the aerospace company’s stock valued at $9,265,000 after buying an additional 1,997 shares in the last quarter. NEOS Investment Management LLC boosted its position in Lockheed Martin by 39.5% in the fourth quarter. NEOS Investment Management LLC now owns 3,130 shares of the aerospace company’s stock valued at $1,419,000 after buying an additional 886 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Lockheed Martin by 18.0% in the fourth quarter. Rafferty Asset Management LLC now owns 42,051 shares of the aerospace company’s stock valued at $19,059,000 after buying an additional 6,415 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

Lockheed Martin Price Performance

LMT stock opened at $584.44 on Tuesday. The firm has a market cap of $140.23 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 4.66 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $584.95. The company’s fifty day simple moving average is $558.55 and its 200 day simple moving average is $495.31.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.73 earnings per share. On average, analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LMT shares. Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Susquehanna lifted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $553.43.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.