Lockheed Martin Co. (NYSE:LMT) Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 32,523 shares of the aerospace company’s stock after selling 836 shares during the period. NewEdge Advisors LLC’s holdings in Lockheed Martin were worth $15,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sachetta LLC boosted its position in 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 purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $30,000. Stephens Consulting LLC increased its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $582.36 on Monday. 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 Co. has a 52 week low of $393.77 and a 52 week high of $584.07. The firm has a market capitalization of $139.73 billion, a P/E ratio of 21.31, a PEG ratio of 4.66 and a beta of 0.47. The stock has a fifty day moving average price of $556.36 and a 200 day moving average price of $494.27.

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. The firm 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%. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.73 earnings per share. Equities research analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LMT. Morgan Stanley raised their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a report on Tuesday, September 3rd. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Finally, UBS Group raised their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $553.43.

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.