Silver Lake Advisory LLC Invests $578,000 in Lockheed Martin Co. (NYSE:LMT)

Silver Lake Advisory LLC bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,237 shares of the aerospace company’s stock, valued at approximately $578,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Aveo Capital Partners LLC lifted its holdings in shares of Lockheed Martin by 4.1% in the 4th quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after buying an additional 26 shares during the period. Evoke Wealth LLC grew its holdings in Lockheed Martin by 28.8% during the 4th quarter. Evoke Wealth LLC now owns 670 shares of the aerospace company’s stock worth $304,000 after acquiring an additional 150 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Lockheed Martin by 10.8% during the 4th quarter. Jones Financial Companies Lllp now owns 20,442 shares of the aerospace company’s stock worth $9,265,000 after acquiring an additional 1,997 shares in the last quarter. NEOS Investment Management LLC increased its position in Lockheed Martin by 39.5% during the 4th quarter. NEOS Investment Management LLC now owns 3,130 shares of the aerospace company’s stock valued at $1,419,000 after purchasing an additional 886 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in shares of Lockheed Martin by 18.0% in the 4th quarter. Rafferty Asset Management LLC now owns 42,051 shares of the aerospace company’s stock valued at $19,059,000 after purchasing an additional 6,415 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $582.36 on Monday. 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. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $584.07. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a 50 day moving average price of $556.36 and a 200 day moving average price of $494.27.

Lockheed Martin (NYSE:LMT) last posted 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. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $6.73 earnings per share. Sell-side analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current year.

Analyst Ratings Changes

LMT has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the company from $540.00 to $600.00 in a research report on Friday, July 26th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $553.43.

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.