Wedge Capital Management L L P NC Has $65.42 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Wedge Capital Management L L P NC raised its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 34.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,634 shares of the aerospace company's stock after purchasing an additional 34,351 shares during the period. Lockheed Martin accounts for approximately 1.2% of Wedge Capital Management L L P NC's holdings, making the stock its 15th biggest position. Wedge Capital Management L L P NC owned approximately 0.06% of Lockheed Martin worth $65,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company's stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC raised its holdings in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company's stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the period. Wellington Management Group LLP raised its holdings in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company's stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the period. Ameriprise Financial Inc. increased its stake in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company's stock valued at $902,714,000 after buying an additional 31,545 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company's stock valued at $911,433,000 after buying an additional 1,556,609 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on LMT shares. Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on shares of Lockheed Martin from $546.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 8th. Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday. They issued a "buy" rating and a $579.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $584.40.

Lockheed Martin Price Performance

NYSE:LMT traded up $3.74 during mid-day trading on Friday, reaching $490.60. 1,331,181 shares of the company were exchanged, compared to its average volume of 1,037,778. The stock has a market cap of $116.29 billion, a PE ratio of 17.76, a PEG ratio of 3.76 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a fifty day moving average of $504.80 and a 200 day moving average of $535.05.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.77 EPS. On average, research analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current fiscal 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.