Lockheed Martin Co. (NYSE:LMT) Stock Position Raised by Verity & Verity LLC

Verity & Verity LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,236 shares of the aerospace company’s stock after purchasing an additional 1,071 shares during the quarter. Lockheed Martin makes up 1.8% of Verity & Verity LLC’s portfolio, making the stock its 18th largest holding. Verity & Verity LLC’s holdings in Lockheed Martin were worth $15,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. HTLF Bank increased its position in Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after buying an additional 20 shares during the period. tru Independence LLC increased its holdings in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after acquiring an additional 20 shares during the period. Sachetta LLC lifted its position in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Twin Lakes Capital Management LLC boosted its stake in 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 valued at $713,000 after purchasing an additional 20 shares during the period. Finally, Goldstein Advisors LLC boosted its stake in Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after purchasing an additional 21 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 3.7 %

Lockheed Martin stock opened at $606.08 on Wednesday. The company’s fifty day moving average price is $560.65 and its two-hundred day moving average price is $496.51. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $611.49. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market capitalization of $145.42 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted 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. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.73 EPS. On average, analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $540.00 to $600.00 in a report on Friday, July 26th. UBS Group boosted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Buying and Selling

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin 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 sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Lockheed Martin Company 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.