Avantax Planning Partners Inc. increased its stake in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,906 shares of the aerospace company's stock after purchasing an additional 756 shares during the quarter. Avantax Planning Partners Inc.'s holdings in Lockheed Martin were worth $4,259,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of LMT. Capital World Investors boosted its stake in Lockheed Martin by 19.0% in the first quarter. Capital World Investors now owns 16,021,414 shares of the aerospace company's stock valued at $7,071,954,000 after acquiring an additional 2,558,881 shares during the last quarter. GQG Partners LLC bought a new position in Lockheed Martin in the first quarter valued at approximately $763,213,000. Vanguard Group Inc. boosted its stake in Lockheed Martin by 8.3% in the first quarter. Vanguard Group Inc. now owns 22,579,851 shares of the aerospace company's stock valued at $9,966,746,000 after acquiring an additional 1,727,343 shares during the last quarter. Invesco Ltd. boosted its stake in Lockheed Martin by 49.6% in the first quarter. Invesco Ltd. now owns 1,858,507 shares of the aerospace company's stock valued at $820,347,000 after acquiring an additional 615,798 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Lockheed Martin by 16.1% in the fourth quarter. Capital Research Global Investors now owns 3,288,398 shares of the aerospace company's stock valued at $1,168,730,000 after acquiring an additional 456,524 shares during the last quarter. 75.50% of the stock is owned by institutional investors.
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Wall Street Analyst Weigh In
A number of brokerages have issued reports on LMT. Royal Bank of Canada began coverage on shares of Lockheed Martin in a research note on Monday, August 29th. They issued a "sector perform" rating and a $460.00 price objective on the stock. Morgan Stanley reduced their target price on shares of Lockheed Martin from $525.00 to $522.00 and set an "overweight" rating for the company in a report on Wednesday, July 20th. StockNews.com raised shares of Lockheed Martin from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Wells Fargo & Company reduced 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 report on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $452.83.
Lockheed Martin Stock Performance
NYSE LMT opened at $413.07 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $109.53 billion, a P/E ratio of 23.90, a P/E/G ratio of 2.83 and a beta of 0.66. Lockheed Martin Co. has a 12-month low of $324.23 and a 12-month high of $479.99. The firm has a 50-day moving average price of $420.04 and a two-hundred day moving average price of $430.88.
Lockheed Martin (NYSE:LMT – Get Rating) last posted its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.39 by ($5.23). The business had revenue of $15.45 billion during the quarter, compared to the consensus estimate of $16.02 billion. Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The business's revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $7.13 EPS. Analysts anticipate that Lockheed Martin Co. will post 26.8 earnings per share for the current year.
Insider Buying and Selling at Lockheed Martin
In other Lockheed Martin 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 value of $2,936,995.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Gregory M. Ulmer sold 6,929 shares of the business's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Donovan bought 632 shares of the company's stock in a transaction dated Wednesday, July 20th. The stock was purchased at an average price of $396.16 per share, with a total value of $250,373.12. Following the completion of the transaction, the director now directly owns 1,200 shares in the company, valued at approximately $475,392. The disclosure for this purchase can be found here. Insiders own 0.17% of the company's stock.
Lockheed Martin Company 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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