Centurion Wealth Management LLC Reduces Position in Lockheed Martin Co. (NYSE:LMT)

by · The Cerbat Gem

Centurion Wealth Management LLC trimmed its stake in Lockheed Martin Co. (NYSE:LMT – Free Report) by 12.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690 shares of the aerospace company’s stock after selling 94 shares during the period. Centurion Wealth Management LLC’s holdings in Lockheed Martin were worth $282,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LMT. State Street Corp grew its stake in shares of Lockheed Martin by 0.5% during the 1st quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock valued at $17,950,761,000 after acquiring an additional 176,739 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lockheed Martin by 2.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,589,021 shares of the aerospace company’s stock valued at $2,548,787,000 after buying an additional 109,466 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lockheed Martin by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,451,163 shares of the aerospace company’s stock worth $2,045,055,000 after buying an additional 106,461 shares during the period. Bank of New York Mellon Corp increased its stake in Lockheed Martin by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,973,771 shares of the aerospace company’s stock worth $807,193,000 after buying an additional 46,890 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Lockheed Martin by 81,305.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock valued at $927,896,000 after acquiring an additional 1,904,985 shares in the last quarter. 74.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on LMT. Wells Fargo & Company raised Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 target price on the stock in a research note on Monday, September 18th. Citigroup decreased their price target on shares of Lockheed Martin from $555.00 to $540.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $495.00 to $481.00 and set a “neutral” rating for the company in a research report on Wednesday, October 18th. UBS Group began coverage on Lockheed Martin in a research note on Tuesday, October 10th. They set a “neutral” rating and a $470.00 price target for the company. Finally, StockNews.com began coverage on Lockheed Martin in a report on Thursday, October 5th. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $495.23.

Get Our Latest Stock Report on Lockheed Martin

Lockheed Martin Stock Down 1.4 %

NYSE LMT traded down $6.66 during trading on Tuesday, reaching $456.52. 561,760 shares of the company’s stock traded hands, compared to its average volume of 855,953. The company’s 50 day simple moving average is $449.77 and its two-hundred day simple moving average is $444.81. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $508.10. The firm has a market cap of $113.26 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.36 and a quick ratio of 1.16.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Tuesday, October 17th. The aerospace company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.67 by $0.10. Lockheed Martin had a return on equity of 75.46% and a net margin of 10.29%. The business had revenue of $16.88 billion for the quarter, compared to the consensus estimate of $16.73 billion. During the same period last year, the business posted $6.87 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 27.2 EPS for the current fiscal year.

About Lockheed Martin

(Free Report)

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

Further Reading

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT – Free Report).