Keel Point LLC Acquires 780 Shares of Lockheed Martin Co. (NYSE:LMT)

Keel Point LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 88.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,657 shares of the aerospace company’s stock after buying an additional 780 shares during the quarter. Keel Point LLC’s holdings in Lockheed Martin were worth $805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Lockheed Martin by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after buying an additional 59,597 shares in the last quarter. Northern Trust Corp boosted its position in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after buying an additional 134,662 shares during the last quarter. Invesco Ltd. increased its stake in shares of Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after buying an additional 318,007 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after acquiring an additional 15,085 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LMT shares. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. UBS Group raised their price objective on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Finally, Truist Financial initiated coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $544.79.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is owned by company insiders.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $478.62 on Friday. The stock has a market capitalization of $112.14 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The stock has a 50 day moving average price of $458.96 and a 200 day moving average price of $488.91. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

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.