ACG Wealth acquired a new position in Lockheed Martin Co. (NYSE:LMT – Get Rating) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 237 shares of the aerospace company's stock, valued at approximately $102,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. Capital World Investors boosted its stake in Lockheed Martin by 19.0% in the 1st quarter. Capital World Investors now owns 16,021,414 shares of the aerospace company's stock worth $7,071,954,000 after purchasing an additional 2,558,881 shares during the period. GQG Partners LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter valued at $763,213,000. Vanguard Group Inc. boosted its stake in shares of Lockheed Martin by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 22,579,851 shares of the aerospace company's stock valued at $9,966,746,000 after buying an additional 1,727,343 shares during the period. Invesco Ltd. boosted its stake in shares of Lockheed Martin by 49.6% during the 1st quarter. Invesco Ltd. now owns 1,858,507 shares of the aerospace company's stock valued at $820,347,000 after buying an additional 615,798 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Lockheed Martin by 16.1% during the 4th quarter. Capital Research Global Investors now owns 3,288,398 shares of the aerospace company's stock valued at $1,168,730,000 after buying an additional 456,524 shares during the period. Institutional investors and hedge funds own 75.50% of the company's stock.
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Insider Transactions at Lockheed Martin
In other news, EVP Gregory M. Ulmer sold 6,929 shares of the business's stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Lockheed Martin news, Director John Donovan bought 632 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were acquired at an average price of $396.16 per share, with a total value of $250,373.12. Following the completion of the purchase, the director now directly owns 1,200 shares in the company, valued at approximately $475,392. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory M. Ulmer sold 6,929 shares of the business's stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The disclosure for this sale can be found here. Insiders own 0.17% of the company's stock.
Wall Street Analyst Weigh In
LMT has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Lockheed Martin from $496.00 to $406.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 20th. Royal Bank of Canada initiated coverage on shares of Lockheed Martin in a research note on Monday, August 29th. They set a "sector perform" rating and a $460.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of Lockheed Martin from $525.00 to $522.00 and set an "overweight" rating for the company in a research note on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $448.92.
Lockheed Martin Stock Performance
Shares of LMT opened at $422.08 on Friday. The company has a market capitalization of $111.92 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.88 and a beta of 0.66. Lockheed Martin Co. has a one year low of $324.23 and a one year high of $479.99. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.06. The company's fifty day moving average price is $419.75 and its 200 day moving average price is $431.25.
Lockheed Martin (NYSE:LMT – Get Rating) last announced its earnings results on Tuesday, July 19th. The aerospace company reported $1.16 EPS for the quarter, missing the consensus estimate of $6.39 by ($5.23). The firm had revenue of $15.45 billion during the quarter, compared to the consensus estimate of $16.02 billion. Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. The business's revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $7.13 EPS. As a group, analysts expect that Lockheed Martin Co. will post 26.8 earnings per share for the current year.
Lockheed Martin Profile
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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.
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