Jennison Associates LLC Has $2.56 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

Jennison Associates LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 61.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,639 shares of the aerospace company’s stock after selling 8,939 shares during the quarter. Jennison Associates LLC’s holdings in Lockheed Martin were worth $2,556,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Herold Advisors Inc. lifted its stake in shares of Lockheed Martin by 8.6% in the third quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock valued at $1,410,000 after buying an additional 274 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Lockheed Martin by 3.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock valued at $8,624,000 after purchasing an additional 770 shares in the last quarter. Alethea Capital Management LLC bought a new position in shares of Lockheed Martin in the third quarter valued at approximately $415,000. New Mexico Educational Retirement Board boosted its position 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 valued at $4,784,000 after buying an additional 700 shares during the last quarter. Finally, Gilbert & Cook Inc. grew its holdings in 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 buying an additional 237 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on LMT shares. The Goldman Sachs Group cut their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Wells Fargo & Company increased their price objective on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank of Canada cut their target price on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Finally, Citigroup increased their price target on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $485.40.

Insider Buying and Selling

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 transaction of $1,747,116.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. In the last ninety days, 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 Stock Down 0.8 %

Shares of NYSE LMT opened at $461.28 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03. The stock has a market capitalization of $110.68 billion, a PE ratio of 16.88, a P/E/G ratio of 4.25 and a beta of 0.48. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The business’s fifty day moving average price is $443.74 and its 200-day moving average price is $444.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.43 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Co. will post 26.05 EPS for the current year.

About Lockheed Martin

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.