Buck Wealth Strategies LLC Buys New Shares in Lockheed Martin Co. (NYSE:LMT)

Buck Wealth Strategies LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,151 shares of the aerospace company’s stock, valued at approximately $6,611,000.

Other large investors have also modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after buying an additional 31,545 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after purchasing an additional 119,052 shares during the period. Wulff Hansen & CO. raised its stake in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after acquiring an additional 1,019,281 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.9 %

Shares of LMT opened at $582.36 on Friday. The stock has a market capitalization 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 Co. has a 52 week low of $393.77 and a 52 week high of $584.07. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a fifty day moving average of $556.36 and a 200-day moving average of $493.85.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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 return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the previous year, the business posted $6.73 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Insider Transactions at Lockheed Martin

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

Analyst Ratings Changes

A number of brokerages have weighed in on LMT. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the company from $540.00 to $600.00 in a report on Friday, July 26th. Barclays boosted their target price on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, Morgan Stanley boosted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $553.43.

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.