Golden State Equity Partners boosted its stake in Lockheed Martin Co. (NYSE:LMT – Free Report) by 73.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,270 shares of the aerospace company’s stock after purchasing an additional 1,802 shares during the period. Golden State Equity Partners’ holdings in Lockheed Martin were worth $1,966,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Lockheed Martin by 0.5% during the 1st quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock worth $17,950,761,000 after buying an additional 176,739 shares in the last quarter. FMR LLC boosted its holdings in Lockheed Martin by 3.4% in the first quarter. FMR LLC now owns 7,497,698 shares of the aerospace company’s stock valued at $3,544,387,000 after purchasing an additional 244,251 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Lockheed Martin by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,849,054 shares of the aerospace company’s stock worth $2,821,626,000 after purchasing an additional 382,510 shares in the last quarter. Geode Capital Management LLC increased its holdings in Lockheed Martin by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,387,684 shares of the aerospace company’s stock worth $2,132,545,000 after purchasing an additional 11,855 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Lockheed Martin by 3.7% in the 1st quarter. Ameriprise Financial Inc. now owns 2,419,579 shares of the aerospace company’s stock valued at $1,139,469,000 after purchasing an additional 85,913 shares in the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.
Insider Transactions at Lockheed Martin
In other news, Director John Donovan acquired 548 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were purchased at an average cost of $457.07 per share, for a total transaction of $250,474.36. Following the transaction, the director now directly owns 3,378 shares in the company, valued at approximately $1,543,982.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on LMT shares. Susquehanna lowered their price objective on Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, July 19th. Citigroup reduced their price objective on shares of Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. StockNews.com initiated coverage on shares of Lockheed Martin in a research note on Thursday, August 17th. They set a “buy” rating for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $532.00 price objective on shares of Lockheed Martin in a report on Wednesday, July 19th. Finally, Royal Bank of Canada lowered their price target on Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $499.43.
Lockheed Martin Stock Performance
Lockheed Martin stock traded down $2.92 during midday trading on Wednesday, hitting $405.83. 541,996 shares of the company’s stock were exchanged, compared to its average volume of 1,195,478. The firm’s 50 day simple moving average is $441.55 and its 200 day simple moving average is $457.07. Lockheed Martin Co. has a 12-month low of $381.55 and a 12-month high of $508.10. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.16 and a current ratio of 1.36. The stock has a market cap of $102.20 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 2.35 and a beta of 0.65.
Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.28. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $15.92 billion. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $6.32 earnings per share. Equities research analysts predict that Lockheed Martin Co. will post 27.07 EPS for the current year.
About Lockheed Martin
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.