Davis Capital Management Acquires 88 Shares of Lockheed Martin Co. (NYSE:LMT)

Davis Capital Management boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,872 shares of the aerospace company’s stock after acquiring an additional 88 shares during the quarter. Davis Capital Management’s holdings in Lockheed Martin were worth $1,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HTLF Bank raised 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 last quarter. tru Independence LLC boosted its holdings in Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 20 shares during the last quarter. Sachetta LLC increased its position in Lockheed Martin by 50.0% during 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 period. Twin Lakes Capital Management LLC raised its holdings 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 worth $713,000 after purchasing an additional 20 shares during the last quarter. Finally, Goldstein Advisors LLC boosted its stake in shares of Lockheed Martin by 1.2% in 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 last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Susquehanna lifted their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, UBS Group lifted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Stock Down 0.4 %

LMT opened at $603.31 on Thursday. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $611.49. The company’s 50-day moving average is $562.41 and its 200 day moving average is $497.26. 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 firm has a market capitalization of $144.76 billion, a P/E ratio of 22.08, 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter last year, the company posted $6.73 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Insider Transactions at Lockheed Martin

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 value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.