Lockheed Martin Co. (NYSE:LMT) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,756 shares of the aerospace company’s stock after buying an additional 84 shares during the quarter. Sunbelt Securities Inc.’s holdings in Lockheed Martin were worth $1,754,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Wulff Hansen & CO. increased its position in 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 in the last quarter. Van ECK Associates Corp boosted its stake in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth about $151,402,000. Capital Research Global Investors raised its position in shares of Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after buying an additional 218,506 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after buying an additional 218,466 shares during the period. Institutional investors and hedge funds 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 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 in the company, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent analyst reports. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Morgan Stanley lifted their price target 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, Barclays increased 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Performance

NYSE:LMT opened at $582.36 on Monday. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $584.07. The firm has a market capitalization of $139.73 billion, a price-to-earnings ratio of 21.31, 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. The firm’s fifty day simple moving average is $556.36 and its 200 day simple moving average is $494.27.

Lockheed Martin (NYSE:LMT) last issued its 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. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.73 earnings per share. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

About Lockheed Martin

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.