Verdence Capital Advisors LLC Has $2.09 Million Position in Lockheed Martin Corporation $LMT

Verdence Capital Advisors LLC increased its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 44.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,299 shares of the aerospace company’s stock after acquiring an additional 1,319 shares during the period. Verdence Capital Advisors LLC’s holdings in Lockheed Martin were worth $2,093,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Barnes Dennig Private Wealth Management LLC increased its holdings in 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 worth $27,000 after buying an additional 40 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new stake in Lockheed Martin in the second quarter valued at $28,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Lockheed Martin in the 2nd quarter valued at about $29,000. Frazier Financial Advisors LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth about $34,000. Finally, MTM Investment Management LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 1.2%

LMT stock opened at $575.65 on Wednesday. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $586.85. The company has a market capitalization of $133.20 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 1.66 and a beta of 0.24. The company’s 50-day simple moving average is $488.14 and its 200 day simple moving average is $473.50. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13.

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

Insider Activity at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the firm’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 transaction, the chief operating officer directly owned 1 shares of the company’s stock, valued at approximately $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Susquehanna reiterated a “positive” rating and set a $660.00 target price on shares of Lockheed Martin in a research note on Thursday, January 15th. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Lockheed Martin from $517.00 to $492.00 and set a “hold” rating on the stock in a research note on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and an average price target of $543.82.

Lockheed Martin Company Profile

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.