CIBC Asset Management Inc Reduces Stock Holdings in Lockheed Martin Corporation $LMT

CIBC Asset Management Inc decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 38.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,564 shares of the aerospace company’s stock after selling 21,244 shares during the quarter. CIBC Asset Management Inc’s holdings in Lockheed Martin were worth $17,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LMT. Patten & Patten Inc. TN raised its stake in shares of Lockheed Martin by 29.6% in the third quarter. Patten & Patten Inc. TN now owns 2,882 shares of the aerospace company’s stock valued at $1,439,000 after acquiring an additional 658 shares in the last quarter. Mendel Capital Management LLC increased its stake in Lockheed Martin by 3.4% in the 3rd quarter. Mendel Capital Management LLC now owns 2,652 shares of the aerospace company’s stock valued at $1,324,000 after buying an additional 86 shares during the period. Biltmore Family Office LLC increased its position in Lockheed Martin by 9.3% during the 3rd quarter. Biltmore Family Office LLC now owns 1,113 shares of the aerospace company’s stock worth $556,000 after purchasing an additional 95 shares during the period. Greatmark Investment Partners Inc. increased its holdings in shares of Lockheed Martin by 19.2% in the 3rd quarter. Greatmark Investment Partners Inc. now owns 1,149 shares of the aerospace company’s stock valued at $574,000 after purchasing an additional 185 shares in the last quarter. Finally, Trek Financial LLC increased its stake in Lockheed Martin by 4.6% in the 3rd quarter. Trek Financial LLC now owns 1,362 shares of the aerospace company’s stock valued at $680,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.6%

Lockheed Martin stock opened at $581.62 on Tuesday. The firm has a market cap of $134.59 billion, a PE ratio of 32.47, a P/E/G ratio of 1.69 and a beta of 0.24. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $596.22. The firm’s 50 day moving average price is $498.14 and its two-hundred day moving average price is $476.96.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup boosted their price target on Lockheed Martin from $505.00 to $592.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Robert W. Baird upped their target price on shares of Lockheed Martin from $550.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Susquehanna reissued a “positive” rating and issued a $660.00 target price on shares of Lockheed Martin in a research report on Thursday, January 15th. BNP Paribas Exane raised their price target on shares of Lockheed Martin from $550.00 to $570.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $586.00 target price on shares of Lockheed Martin in a research note on Monday, January 12th. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $543.82.

About Lockheed Martin

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.