Lockheed Martin Co. (NYSE:LMT) Position Increased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,461 shares of the aerospace company's stock after acquiring an additional 990 shares during the quarter. Daymark Wealth Partners LLC's holdings in Lockheed Martin were worth $10,024,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company's stock worth $902,714,000 after buying an additional 31,545 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Lockheed Martin by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company's stock worth $546,144,000 after purchasing an additional 119,052 shares in the last quarter. Wulff Hansen & CO. grew its stake in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company's stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company's stock valued at $433,621,000 after buying an additional 218,506 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Lockheed Martin by 0.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 833,264 shares of the aerospace company's stock worth $389,218,000 after acquiring an additional 2,942 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a "hold" rating to a "buy" rating and upped their price target for the company from $540.00 to $600.00 in a report on Friday, July 26th. Bank of America reiterated a "buy" rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an "equal weight" rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $553.43.

Lockheed Martin Stock Performance

NYSE:LMT traded down $0.51 during mid-day trading on Thursday, hitting $577.43. The stock had a trading volume of 746,167 shares, compared to its average volume of 1,062,905. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $583.75. 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 stock has a market capitalization of $138.55 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 4.66 and a beta of 0.47. The company has a 50 day simple moving average of $552.18 and a 200-day simple moving average of $491.82.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to analysts' expectations of $17.05 billion. During the same period last year, the firm posted $6.73 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Lockheed Martin 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.