Central Pacific Bank Trust Division Sells 32 Shares of Lockheed Martin Co. (NYSE:LMT)

Central Pacific Bank Trust Division reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 490 shares of the aerospace company’s stock after selling 32 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Lockheed Martin were worth $286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LMT. Cibc World Markets Corp boosted its stake in shares of Lockheed Martin by 106.3% during the 4th quarter. Cibc World Markets Corp now owns 31,292 shares of the aerospace company’s stock worth $14,183,000 after acquiring an additional 16,121 shares during the period. Exencial Wealth Advisors LLC boosted its stake in Lockheed Martin by 7.4% in the 4th quarter. Exencial Wealth Advisors LLC now owns 4,825 shares of the aerospace company’s stock valued at $2,187,000 after purchasing an additional 332 shares during the period. Stephens Inc. AR boosted its stake in Lockheed Martin by 4.5% in the 4th quarter. Stephens Inc. AR now owns 20,762 shares of the aerospace company’s stock valued at $9,410,000 after purchasing an additional 895 shares during the period. Envestnet Asset Management Inc. boosted its stake in Lockheed Martin by 1.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after purchasing an additional 9,136 shares during the period. Finally, Angeles Wealth Management LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $320,000. 74.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $605.82 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $611.49. The stock has a market capitalization of $145.36 billion, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. The stock has a fifty day moving average of $564.10 and a 200-day moving average of $498.01.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the previous year, the firm earned $6.73 EPS. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on LMT. JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday. Finally, Susquehanna lifted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $554.86.

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