B. Riley Wealth Management Inc. acquired a new position in Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,929 shares of the aerospace company’s stock, valued at approximately $1,359,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of LMT. Canton Hathaway LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at $104,000. Amussen Hunsaker Associates LLC grew its holdings in shares of Lockheed Martin by 159.1% during the third quarter. Amussen Hunsaker Associates LLC now owns 342 shares of the aerospace company’s stock valued at $118,000 after buying an additional 210 shares in the last quarter. Fort L.P. purchased a new position in shares of Lockheed Martin during the second quarter valued at $116,000. Whitener Capital Management Inc. purchased a new position in shares of Lockheed Martin during the third quarter valued at $169,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Lockheed Martin during the third quarter valued at $180,000. 77.66% of the stock is currently owned by institutional investors.
Shares of NYSE LMT traded up $6.96 during trading hours on Thursday, hitting $277.50. 1,830,763 shares of the company’s stock were exchanged, compared to its average volume of 1,428,243. Lockheed Martin Co. has a 1-year low of $241.18 and a 1-year high of $363.00. The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11. The stock has a market capitalization of $75.38 billion, a PE ratio of 20.82, a P/E/G ratio of 2.27 and a beta of 0.96.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.31 by $0.83. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The business had revenue of $14.32 billion during the quarter, compared to analysts’ expectations of $13.10 billion. During the same quarter in the previous year, the firm earned $3.24 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts forecast that Lockheed Martin Co. will post 17.71 EPS for the current fiscal year.
Lockheed Martin declared that its board has approved a stock repurchase plan on Thursday, September 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have recently weighed in on the company. Credit Suisse Group lifted their price target on Lockheed Martin from $340.00 to $368.00 and gave the company a “neutral” rating in a report on Wednesday, October 3rd. Zacks Investment Research downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Morgan Stanley set a $386.00 target price on Lockheed Martin and gave the company a “buy” rating in a research note on Thursday, October 11th. Goldman Sachs Group upgraded Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and boosted their target price for the company from $391.00 to $394.00 in a research note on Wednesday, October 24th. Finally, JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $358.60.
In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the completion of the transaction, the vice president now owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.
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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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