Floyd Financial Group LLC Acquires Shares of 1,704 Lockheed Martin Corporation $LMT

Floyd Financial Group LLC bought a new position in Lockheed Martin Corporation (NYSE:LMT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,704 shares of the aerospace company’s stock, valued at approximately $859,000.

Other institutional investors also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 40 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in Lockheed Martin in the second quarter worth $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin in the second quarter worth $29,000. Frazier Financial Advisors LLC bought a new position in shares of Lockheed Martin during the second quarter valued at $34,000. Finally, MTM Investment Management LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter worth about $36,000. 74.19% of the stock is currently owned by institutional investors.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the completion of the sale, the chief operating officer directly owned 1 shares of the company’s stock, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of several recent analyst reports. BNP Paribas Exane increased their price objective on shares of Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Royal Bank Of Canada increased their price target on shares of Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. BNP Paribas upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $515.00 target price (up from $465.00) on shares of Lockheed Martin in a research note on Friday, December 19th. Finally, UBS Group lifted their target price on Lockheed Martin from $513.00 to $580.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $543.82.

Lockheed Martin Stock Down 1.2%

LMT stock opened at $575.65 on Wednesday. The company has a market cap of $133.20 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 1.66 and a beta of 0.24. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. The business’s 50-day moving average is $488.14 and its two-hundred day moving average is $473.50. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $586.85.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The business had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. During the same period in the previous year, the company posted $6.84 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.