Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Verity & Verity LLC

Verity & Verity LLC increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,236 shares of the aerospace company’s stock after buying an additional 1,071 shares during the quarter. Lockheed Martin comprises approximately 1.8% of Verity & Verity LLC’s portfolio, making the stock its 18th largest position. Verity & Verity LLC’s holdings in Lockheed Martin were worth $15,992,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LMT. Ameriprise Financial Inc. grew its holdings in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares during the period. Legal & General Group Plc raised its stake in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after acquiring an additional 180,074 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after acquiring an additional 119,052 shares during the last quarter. Wulff Hansen & CO. boosted its position in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Finally, Capital Research Global Investors increased its holdings in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. UBS Group upped their price target 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. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $606.08 on Wednesday. The firm’s fifty day moving average price is $560.65 and its 200 day moving average price is $496.51. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market capitalization of $145.42 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $611.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 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 firm 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 business posted $6.73 earnings per share. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

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.