Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,352 shares of the aerospace company’s stock after purchasing an additional 1,315 shares during the quarter. Truist Financial Corp’s holdings in Lockheed Martin were worth $124,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LMT. HTLF Bank increased its position in Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC raised its position in Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after acquiring an additional 20 shares in the last quarter. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Twin Lakes Capital Management LLC boosted its position in shares of Lockheed Martin by 1.3% during the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock worth $713,000 after purchasing an additional 20 shares in the last quarter. Finally, Goldstein Advisors LLC grew its stake in shares of Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after purchasing an additional 21 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Barclays upped their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. TD Cowen raised 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. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $500.00 to $600.00 in a report on Monday, August 5th. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $584.44 on Tuesday. The stock has a fifty day moving average price of $558.55 and a 200 day moving average price of $495.31. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $584.95. The firm has a market capitalization of $140.23 billion, a P/E ratio of 21.38, 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.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the firm posted $6.73 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Insider Buying and Selling at Lockheed Martin

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 transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by company insiders.

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.