The Manufacturers Life Insurance Company Has $205.48 Million Stake in Lockheed Martin Co. (NYSE:LMT)

The Manufacturers Life Insurance Company cut its stake in Lockheed Martin Co. (NYSE:LMT) by 25.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 439,912 shares of the aerospace company’s stock after selling 150,323 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.18% of Lockheed Martin worth $205,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC grew 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 purchasing an additional 26 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Lockheed Martin by 111.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock worth $1,026,000 after purchasing an additional 1,209 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Lockheed Martin by 5.7% in the 4th quarter. TD Asset Management Inc now owns 95,285 shares of the aerospace company’s stock valued at $43,187,000 after buying an additional 5,156 shares during the last quarter. Avestar Capital LLC grew its stake in shares of Lockheed Martin by 49.9% in the fourth quarter. Avestar Capital LLC now owns 751 shares of the aerospace company’s stock valued at $340,000 after buying an additional 250 shares in the last quarter. Finally, Evoke Wealth LLC increased its holdings in Lockheed Martin by 28.8% during the fourth quarter. Evoke Wealth LLC now owns 670 shares of the aerospace company’s stock worth $304,000 after buying an additional 150 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.8 %

Shares of NYSE LMT opened at $582.29 on Friday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $584.07. The stock’s fifty day moving average is $556.36 and its 200 day moving average is $493.44. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market capitalization of $139.71 billion, a P/E ratio of 21.31, a PEG ratio of 4.66 and a beta of 0.47.

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. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.73 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on LMT shares. Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. 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. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target 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.