Jennison Associates LLC Decreases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Jennison Associates LLC lessened its position in Lockheed Martin Co. (NYSE:LMT) by 61.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,639 shares of the aerospace company’s stock after selling 8,939 shares during the period. 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 hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Lockheed Martin by 10,526.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after purchasing an additional 1,349,409 shares during the period. Vanguard Group Inc. raised its holdings in shares of Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after acquiring an additional 279,162 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Lockheed Martin by 28.5% in the third quarter. Envestnet Asset Management Inc. now owns 707,696 shares of the aerospace company’s stock worth $289,419,000 after acquiring an additional 156,842 shares during the period. Wellington Management Group LLP boosted its holdings in Lockheed Martin by 4.0% in the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after acquiring an additional 121,358 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Lockheed Martin by 32.4% during the 3rd quarter. AQR Capital Management LLC now owns 449,167 shares of the aerospace company’s stock valued at $183,691,000 after purchasing an additional 110,021 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Maryanne Lavan sold 4,022 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction on 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 three months, 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 Price Performance

Shares of LMT opened at $461.28 on Friday. 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 $110.68 billion, a P/E ratio of 16.88, a PEG ratio of 4.25 and a beta of 0.48. The firm’s 50 day moving average price is $443.74 and its 200 day moving average price is $444.46. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same quarter last year, the company posted $6.43 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 26.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research reports. Citigroup lifted 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. Royal Bank of Canada reduced their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. The Goldman Sachs Group cut their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday. UBS Group boosted their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Susquehanna decreased their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average price target of $485.40.

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.