Illinois Municipal Retirement Fund Cuts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Illinois Municipal Retirement Fund lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 33.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,636 shares of the aerospace company’s stock after selling 3,822 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Lockheed Martin were worth $3,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. GHP Investment Advisors Inc. increased its holdings in Lockheed Martin by 33.8% in the third quarter. GHP Investment Advisors Inc. now owns 1,887 shares of the aerospace company’s stock valued at $832,000 after buying an additional 477 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Lockheed Martin by 4.0% in the third quarter. Exchange Traded Concepts LLC now owns 17,157 shares of the aerospace company’s stock valued at $7,017,000 after buying an additional 663 shares during the last quarter. Caprock Group LLC increased its holdings in Lockheed Martin by 1.5% in the third quarter. Caprock Group LLC now owns 1,746 shares of the aerospace company’s stock valued at $714,000 after buying an additional 26 shares during the last quarter. ARK Investment Management LLC increased its holdings in Lockheed Martin by 11.6% in the third quarter. ARK Investment Management LLC now owns 30,508 shares of the aerospace company’s stock valued at $12,477,000 after buying an additional 3,166 shares during the last quarter. Finally, CX Institutional increased its holdings in Lockheed Martin by 202.3% in the third quarter. CX Institutional now owns 14,566 shares of the aerospace company’s stock valued at $5,957,000 after buying an additional 9,747 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Morgan Stanley dropped their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. The Goldman Sachs Group dropped their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a report on Thursday. Susquehanna dropped their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, January 24th. Finally, Royal Bank of Canada dropped their price objective on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $481.40.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $459.13 on Thursday. The company has a 50-day moving average price of $442.16 and a 200 day moving average price of $444.14. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $480.92. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The company has a market cap of $110.42 billion, a P/E ratio of 16.80, a PEG ratio of 4.21 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. During the same period last year, the firm earned $6.43 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Research analysts predict that Lockheed Martin Co. will post 26.04 earnings per share for the current year.

Insider Activity

In other news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last three months, insiders sold 16,874 shares of company stock worth $7,249,946. Company insiders own 0.17% of the company’s stock.

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.