Mackenzie Financial Corp Grows Stock Position in Lockheed Martin Co. (NYSE:LMT)

Mackenzie Financial Corp increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% in the 2nd quarter, Holdings Channel reports. The firm owned 125,730 shares of the aerospace company’s stock after purchasing an additional 1,654 shares during the period. Mackenzie Financial Corp’s holdings in Lockheed Martin were worth $58,728,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC lifted its stake in shares of Lockheed Martin by 4.1% in the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after buying an additional 26 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in Lockheed Martin by 111.1% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock valued at $1,026,000 after acquiring an additional 1,209 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Lockheed Martin by 5.7% during the 4th quarter. TD Asset Management Inc now owns 95,285 shares of the aerospace company’s stock worth $43,187,000 after purchasing an additional 5,156 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of Lockheed Martin by 49.9% during the 4th quarter. Avestar Capital LLC now owns 751 shares of the aerospace company’s stock worth $340,000 after purchasing an additional 250 shares during the last quarter. Finally, Evoke Wealth LLC grew its position in shares of Lockheed Martin by 28.8% in the fourth quarter. Evoke Wealth LLC now owns 670 shares of the aerospace company’s stock valued at $304,000 after purchasing an additional 150 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on LMT. Susquehanna lifted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.

Lockheed Martin Price Performance

LMT stock opened at $582.29 on Friday. The business’s fifty day moving average price is $556.36 and its 200 day moving average price is $493.44. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $584.07. 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 company has a market capitalization of $139.71 billion, a PE ratio of 21.31, a P/E/G ratio of 4.66 and a beta of 0.47.

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

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.