Lockheed Martin Corporation $LMT Shares Sold by Core Alternative Capital

Core Alternative Capital lessened its stake in Lockheed Martin Corporation (NYSE:LMT) by 14.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,917 shares of the aerospace company’s stock after selling 1,643 shares during the quarter. Core Alternative Capital’s holdings in Lockheed Martin were worth $4,951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Barnes Dennig Private Wealth Management LLC lifted its stake in Lockheed Martin by 285.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after buying an additional 40 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Lockheed Martin during the third quarter valued at approximately $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Lockheed Martin during the second quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth $29,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth $34,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 2.3%

Shares of LMT opened at $595.03 on Wednesday. The company’s 50-day moving average price is $500.56 and its 200 day moving average price is $477.85. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $596.22. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. The firm has a market cap of $137.69 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 1.66 and a beta of 0.24.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research reports. UBS Group raised their price target on shares of Lockheed Martin from $513.00 to $580.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Sanford C. Bernstein restated a “market perform” rating and set a $586.00 target price on shares of Lockheed Martin in a report on Monday, January 12th. Citigroup upped their price target on Lockheed Martin from $505.00 to $592.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $543.00 target price (down from $630.00) on shares of Lockheed Martin in a research note on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $543.82.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.