Hennessy Advisors Inc. Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Hennessy Advisors Inc. lowered its position in Lockheed Martin Co. (NYSE:LMT) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,500 shares of the aerospace company’s stock after selling 300 shares during the quarter. Hennessy Advisors Inc.’s holdings in Lockheed Martin were worth $2,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LMT. Edgestream Partners L.P. increased its position in Lockheed Martin by 63.6% during the 2nd quarter. Edgestream Partners L.P. now owns 3,170 shares of the aerospace company’s stock valued at $1,481,000 after purchasing an additional 1,232 shares during the period. Brighton Jones LLC boosted its stake in shares of Lockheed Martin by 5.1% during the second quarter. Brighton Jones LLC now owns 3,956 shares of the aerospace company’s stock valued at $1,848,000 after purchasing an additional 192 shares in the last quarter. Ieq Capital LLC increased its holdings in Lockheed Martin by 12.4% during the second quarter. Ieq Capital LLC now owns 13,396 shares of the aerospace company’s stock valued at $6,257,000 after buying an additional 1,478 shares during the period. Wealth Advisors of Tampa Bay LLC bought a new position in Lockheed Martin in the second quarter worth approximately $2,107,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Lockheed Martin by 7.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 43,438 shares of the aerospace company’s stock worth $20,290,000 after buying an additional 3,047 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

LMT opened at $490.60 on Friday. The company has a market cap of $116.29 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.76 and a beta of 0.48. The firm’s fifty day simple moving average is $506.28 and its two-hundred day simple moving average is $534.89. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the firm posted $6.77 EPS. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

LMT has been the subject of a number of analyst reports. Susquehanna decreased their price objective on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. UBS Group raised their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $584.40.

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.