Texas Capital Bank Wealth Management Services Inc Acquires 95 Shares of Lockheed Martin Co. (NYSE:LMT)

Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 9.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,053 shares of the aerospace company’s stock after acquiring an additional 95 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Lockheed Martin were worth $492,000 as of its most recent filing with the SEC.

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

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on 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 transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $582.29 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $584.07. The stock has a market cap of $139.71 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 4.66 and a beta of 0.47. The business’s 50-day simple moving average is $556.36 and its 200 day simple moving average is $493.44.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.73 EPS. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on LMT. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. UBS Group upped their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, Barclays increased their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

About Lockheed Martin

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.