Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Truist Financial Corp

Truist Financial Corp increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 266,352 shares of the aerospace company’s stock after buying an additional 1,315 shares during the quarter. Truist Financial Corp owned about 0.11% of Lockheed Martin worth $124,413,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares during the period. Buck Wealth Strategies LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at about $6,611,000. Morningstar Investment Services LLC boosted its stake in shares of Lockheed Martin by 99.6% in the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after buying an additional 73,774 shares during the last quarter. Brevan Howard Capital Management LP grew its holdings in Lockheed Martin by 414.2% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after acquiring an additional 5,736 shares during the period. Finally, New Mexico Educational Retirement Board raised its position in Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after acquiring an additional 2,400 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LMT. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the company from $540.00 to $600.00 in a report on Friday, July 26th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Finally, Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Performance

NYSE:LMT opened at $584.44 on Tuesday. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $584.95. The company has a market cap of $140.23 billion, a P/E ratio of 21.38, a P/E/G ratio of 4.66 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company’s 50-day moving average price is $558.55 and its 200-day moving average price is $495.31.

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

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin 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.