Lockheed Martin Co. (NYSE:LMT) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its stake in Lockheed Martin Co. (NYSE:LMT) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 134,634 shares of the aerospace company’s stock after acquiring an additional 34,351 shares during the period. Lockheed Martin makes up 1.2% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 15th largest position. Wedge Capital Management L L P NC owned about 0.06% of Lockheed Martin worth $65,424,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the third quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter valued at $27,000. Capital Performance Advisors LLP acquired a new stake in Lockheed Martin in the 3rd quarter valued at $40,000. Finally, Legacy Investment Solutions LLC purchased a new position in Lockheed Martin in the third quarter valued at about $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $490.60 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a 50-day simple moving average of $506.28 and a 200 day simple moving average of $534.89. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a market cap of $116.29 billion, a PE ratio of 17.76, a P/E/G ratio of 3.76 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the business posted $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LMT shares. Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Citigroup increased their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen upped their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday. They set a “buy” rating and a $579.00 price target for the company. Finally, UBS Group upped their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $584.40.

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.