Federated Hermes Inc. Trims Position in Lockheed Martin Co. (NYSE:LMT)

Federated Hermes Inc. lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 39.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,806 shares of the aerospace company’s stock after selling 3,145 shares during the quarter. Federated Hermes Inc.’s holdings in Lockheed Martin were worth $2,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Herold Advisors Inc. grew its holdings in shares of Lockheed Martin by 8.6% during the third quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock worth $1,410,000 after purchasing an additional 274 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Lockheed Martin by 3.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock worth $8,624,000 after purchasing an additional 770 shares in the last quarter. Alethea Capital Management LLC purchased a new position in shares of Lockheed Martin during the third quarter worth about $415,000. New Mexico Educational Retirement Board grew its holdings in shares of Lockheed Martin by 6.4% during the third quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock worth $4,784,000 after purchasing an additional 700 shares in the last quarter. Finally, Gilbert & Cook Inc. grew its holdings in shares of Lockheed Martin by 22.8% during the third quarter. Gilbert & Cook Inc. now owns 1,275 shares of the aerospace company’s stock worth $521,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $461.29 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The company has a market cap of $110.68 billion, a PE ratio of 16.88, a P/E/G ratio of 4.22 and a beta of 0.48. The business has a 50 day moving average of $443.74 and a 200 day moving average of $444.58. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $479.50.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The firm had revenue of $17.20 billion for 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 quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm posted $6.43 earnings per share. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.16 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. The Goldman Sachs Group dropped their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. Susquehanna dropped their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, UBS Group boosted their target price on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $485.40.

Insider Buying and Selling at Lockheed Martin

In other news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.17% of the company’s stock.

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.