Deerfield Management Company L.P. Series C Buys Shares of 642 Lockheed Martin Co. (NYSE:LMT)

Deerfield Management Company L.P. Series C purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 642 shares of the aerospace company’s stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Aveo Capital Partners LLC lifted its position in shares of Lockheed Martin by 4.1% during the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after purchasing an additional 26 shares during the last quarter. Gryphon Financial Partners LLC lifted its holdings in Lockheed Martin by 111.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock worth $1,026,000 after buying an additional 1,209 shares during the last quarter. TD Asset Management Inc grew its position in shares of Lockheed Martin by 5.7% in the 4th quarter. TD Asset Management Inc now owns 95,285 shares of the aerospace company’s stock worth $43,187,000 after acquiring an additional 5,156 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of Lockheed Martin by 49.9% in the 4th quarter. Avestar Capital LLC now owns 751 shares of the aerospace company’s stock valued at $340,000 after acquiring an additional 250 shares during the last quarter. Finally, Evoke Wealth LLC raised its position in shares of Lockheed Martin by 28.8% during the 4th quarter. Evoke Wealth LLC now owns 670 shares of the aerospace company’s stock valued at $304,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was 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 in the company, valued at $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by insiders.

Lockheed Martin Stock Performance

LMT stock opened at $582.29 on Friday. The company has a 50-day simple moving average of $556.36 and a 200 day simple moving average of $493.44. The company has a market capitalization of $139.71 billion, a P/E ratio of 21.31, a PEG ratio of 4.66 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $584.07.

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

Analysts Set New Price Targets

LMT has been the subject of a number of research reports. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Morgan Stanley upped their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average 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.