Quarry LP Increases Position in Lockheed Martin Co. (NYSE:LMT)

Quarry LP increased its position in Lockheed Martin Co. (NYSE:LMT) by 242.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,303 shares of the aerospace company’s stock after acquiring an additional 3,753 shares during the period. Quarry LP’s holdings in Lockheed Martin were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the period. Morningstar Investment Services LLC lifted its stake in Lockheed Martin by 99.6% during the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after acquiring an additional 73,774 shares during the period. Brevan Howard Capital Management LP boosted its holdings in shares of Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after acquiring an additional 5,736 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in shares of Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after acquiring an additional 2,400 shares during the period. Finally, American National Bank lifted its position in Lockheed Martin by 26.8% during the first quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock valued at $16,638,000 after purchasing an additional 7,731 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LMT shares. UBS Group lifted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Barclays lifted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $553.43.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Up 0.9 %

LMT stock opened at $582.36 on Monday. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $584.07. The business’s 50-day moving average is $556.36 and its 200 day moving average is $494.27. 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 stock has a market cap of $139.73 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the company posted $6.73 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.65 EPS 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.