Northwestern Mutual Wealth Management Co. Buys 338 Shares of Lockheed Martin Co. (NYSE:LMT)

Northwestern Mutual Wealth Management Co. raised its stake in Lockheed Martin Co. (NYSE:LMT) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,353 shares of the aerospace company’s stock after purchasing an additional 338 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Lockheed Martin were worth $23,063,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LMT. HTLF Bank raised its holdings in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after buying an additional 20 shares during the last quarter. tru Independence LLC increased its position in shares of Lockheed Martin by 2.5% during the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after acquiring an additional 20 shares in the last quarter. Sachetta LLC raised its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Goldstein Advisors LLC lifted its position in Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after acquiring an additional 21 shares in the last quarter. Finally, Hudock Inc. lifted its position in Lockheed Martin by 1.3% in the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LMT. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. UBS Group increased their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $584.44 on Tuesday. The business’s 50 day simple moving average is $558.55 and its 200 day simple moving average is $495.31. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $584.95. The company has a market cap of $140.23 billion, a price-to-earnings ratio of 21.38, a PEG 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.

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

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

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.