Scientech Research LLC Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Scientech Research LLC acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,051 shares of the aerospace company’s stock, valued at approximately $491,000.

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have commented on LMT shares. Susquehanna raised their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Barclays boosted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Price Performance

Shares of LMT stock opened at $582.36 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm 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. The firm’s 50 day moving average is $556.36 and its 200-day moving average is $494.27. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $584.07.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $6.73 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

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.