Cullen Frost Bankers Inc. Lowers Stake in Lockheed Martin Corporation $LMT

Cullen Frost Bankers Inc. lessened its holdings in Lockheed Martin Corporation (NYSE:LMT) by 63.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,519 shares of the aerospace company’s stock after selling 19,690 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Lockheed Martin were worth $5,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LMT. Barnes Dennig Private Wealth Management LLC boosted its position in shares of Lockheed Martin by 285.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 40 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Lockheed Martin during the third quarter valued at $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Lockheed Martin in the second quarter worth $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth $29,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Lockheed Martin during the second quarter valued at $34,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the topic of several recent analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $543.00 price objective (down from $630.00) on shares of Lockheed Martin in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Citigroup raised their price target on shares of Lockheed Martin from $505.00 to $592.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Lockheed Martin from $517.00 to $492.00 and set a “hold” rating on the stock in a research note on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $543.82.

Lockheed Martin Stock Down 0.6%

Shares of Lockheed Martin stock opened at $590.30 on Monday. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $596.22. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The company’s 50 day moving average is $495.94 and its 200 day moving average is $476.13. The company has a market cap of $136.59 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.24.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.