Folger Nolan Fleming Douglas Capital Management Inc. Raises Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Folger Nolan Fleming Douglas Capital Management Inc. lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,178 shares of the aerospace company’s stock after acquiring an additional 200 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Lockheed Martin were worth $1,058,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Lockheed Martin by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC boosted its holdings in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares during the period. Wellington Management Group LLP grew its position in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after buying an additional 31,545 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LMT shares. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their price objective on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada lowered their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $584.40.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $490.60 on Friday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company’s 50-day moving average is $506.28 and its 200 day moving average is $534.89. The firm has a market capitalization of $116.29 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $6.77 EPS. Research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

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.