Canandaigua National Bank & Trust Co. Sells 725 Shares of Lockheed Martin Co. (NYSE:LMT)

Canandaigua National Bank & Trust Co. reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,603 shares of the aerospace company’s stock after selling 725 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Lockheed Martin were worth $7,367,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. HTLF Bank increased its stake in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after buying an additional 20 shares during the period. tru Independence LLC boosted its holdings in Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 20 shares in the last quarter. Sachetta LLC increased its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Twin Lakes Capital Management LLC raised its holdings in Lockheed Martin by 1.3% in the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock worth $713,000 after purchasing an additional 20 shares in the last quarter. Finally, Goldstein Advisors LLC lifted its position in shares of Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after purchasing an additional 21 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.4 %

NYSE:LMT opened at $605.82 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market cap of $145.36 billion, a P/E ratio of 22.17, a P/E/G ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $611.49. The firm has a 50-day simple moving average of $564.10 and a two-hundred day simple moving average of $498.01.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.73 earnings per share. Analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Susquehanna increased their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Barclays boosted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $554.86.

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.