Mattson Financial Services LLC Buys New Stake in Lockheed Martin Co. (NYSE:LMT)

Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the second quarter, Holdings Channel reports. The fund purchased 57 shares of the aerospace company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also modified their holdings of LMT. Centaurus Financial Inc. lifted its stake in Lockheed Martin by 17.6% during the 2nd quarter. Centaurus Financial Inc. now owns 3,400 shares of the aerospace company’s stock worth $1,588,000 after acquiring an additional 510 shares in the last quarter. Verity & Verity LLC increased its stake in Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Lockheed Martin during the second quarter worth about $24,001,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Lockheed Martin in the second quarter valued at approximately $201,000. Finally, New Century Financial Group LLC boosted its stake in shares of Lockheed Martin by 179.6% in the second quarter. New Century Financial Group LLC now owns 1,258 shares of the aerospace company’s stock valued at $588,000 after purchasing an additional 808 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Susquehanna increased their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday. UBS Group upped their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $554.86.

Lockheed Martin Price Performance

LMT stock opened at $605.82 on Friday. The business has a 50 day moving average price of $564.10 and a 200 day moving average price of $498.01. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a market cap of $145.36 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $611.49.

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

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

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.