Cordasco Financial Network Lowers stake in Lockheed Martin Corporation (LMT)

Lockheed Martin Corporation (LMT) : Cordasco Financial Network reduced its stake in Lockheed Martin Corporation by 9.52% during the most recent quarter end. The investment management company now holds a total of 11,598 shares of Lockheed Martin Corporation which is valued at $2,695,143 after selling 1,221 shares in Lockheed Martin Corporation , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Lockheed Martin Corporation makes up approximately 3.00% of Cordasco Financial Network’s portfolio.

Lockheed Martin Corporation opened for trading at $232.74 and hit $233.8 on the upside on Monday, eventually ending the session at $233.24, with a gain of 0.37% or 0.86 points. The heightened volatility saw the trading volume jump to 10,08,300 shares. Company has a market cap of $71,011 M.

Other Hedge Funds, Including , Wright Investors Service Inc boosted its stake in LMT in the latest quarter, The investment management firm added 2,920 additional shares and now holds a total of 14,699 shares of Lockheed Martin Corporation which is valued at $3,415,754. Lockheed Martin Corporation makes up approx 1.35% of Wright Investors Service Inc’s portfolio.Advisory Services Network reduced its stake in LMT by selling 1,669 shares or 30.09% in the most recent quarter. The Hedge Fund company now holds 3,878 shares of LMT which is valued at $879,647. Lockheed Martin Corporation makes up approx 0.24% of Advisory Services Network’s portfolio.Asset Advisors Corp boosted its stake in LMT in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 85 shares of Lockheed Martin Corporation which is valued at $19,281.Osborn Rohs Williams Donohoe Ltd boosted its stake in LMT in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 1,825 shares of Lockheed Martin Corporation which is valued at $412,103. Lockheed Martin Corporation makes up approx 0.08% of Osborn Rohs Williams Donohoe Ltd’s portfolio.

On the company’s financial health, Lockheed Martin Corporation reported $2.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $2.61. The company had revenue of $11702.00 million for the quarter, compared to analysts expectations of $11384.05 million. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.74 EPS.

Many Wall Street Analysts have commented on Lockheed Martin Corporation. Company shares were Reiterated by Barclays on May 2, 2016 to “Underweight”, Firm has raised the Price Target to $ 225 from a previous price target of $215 .Lockheed Martin Corporation was Initiated by Berenberg to “Buy” on Mar 17, 2016. Company shares were Reiterated by Barclays on Feb 16, 2016 to “Underweight”, Firm has raised the Price Target to $ 215 from a previous price target of $210 .

Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research design development manufacture integration and sustainment of advanced technology systems products and services. The Company operates in five segments: Aeronautics Information Systems & Global Solutions (IS&GS) Missiles and Fire Control (MFC) Mission Systems and Training (MST) and Space Systems. The Company provides a range of management engineering technical scientific logistics and information services. The Company’s areas of focus are in defense space intelligence homeland security and information technology including cyber security. It serves both the United States and international customers with products and services that have defense civil and commercial applications.

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