Central Pacific Bank Trust Division Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Central Pacific Bank Trust Division lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 15.7% in the fourth quarter, HoldingsChannel reports. The firm owned 567 shares of the aerospace company’s stock after acquiring an additional 77 shares during the period. Central Pacific Bank Trust Division’s holdings in Lockheed Martin were worth $276,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Lantz Financial LLC boosted its stake in shares of Lockheed Martin by 2.6% during the second quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock valued at $2,281,000 after acquiring an additional 123 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Lockheed Martin by 14.0% in the 2nd quarter. Larson Financial Group LLC now owns 441 shares of the aerospace company’s stock valued at $206,000 after purchasing an additional 54 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Lockheed Martin by 1.8% during the 2nd quarter. TD Asset Management Inc now owns 96,205 shares of the aerospace company’s stock worth $44,937,000 after purchasing an additional 1,707 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Lockheed Martin by 7.7% during the second quarter. Victory Capital Management Inc. now owns 277,427 shares of the aerospace company’s stock worth $129,586,000 after buying an additional 19,728 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Lockheed Martin by 1.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,580 shares of the aerospace company’s stock valued at $738,000 after buying an additional 29 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

NYSE:LMT opened at $481.82 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a market capitalization of $114.21 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 4.05 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm’s fifty day simple moving average is $519.47 and its 200 day simple moving average is $534.34.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Susquehanna lowered their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the company from $611.00 to $523.00 in a research note on Thursday. Finally, StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $605.36.

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.