Legal & General Group Plc Acquires 180,074 Shares of Lockheed Martin Co. (NYSE:LMT)

Legal & General Group Plc boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 14.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,384,774 shares of the aerospace company’s stock after buying an additional 180,074 shares during the quarter. Legal & General Group Plc owned 0.58% of Lockheed Martin worth $646,828,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LMT. Sachetta LLC grew its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC raised its holdings in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin in the first quarter worth $30,000. Stephens Consulting LLC increased its stake in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Lockheed Martin in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.8 %

Shares of NYSE:LMT opened at $582.29 on Friday. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $584.07. The company has a market capitalization of $139.71 billion, a PE ratio of 21.31, a PEG ratio of 4.66 and a beta of 0.47. The business has a 50 day moving average of $556.36 and a two-hundred day moving average of $493.44. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.73 earnings per share. As a group, analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LMT. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Susquehanna boosted their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $553.43.

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.