Parkshore Wealth Management Inc. Makes New $1.90 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Parkshore Wealth Management Inc. acquired a new stake in Lockheed Martin Co. (NYSE:LMT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,909 shares of the aerospace company's stock, valued at approximately $1,900,000. Lockheed Martin accounts for 1.1% of Parkshore Wealth Management Inc.'s holdings, making the stock its 21st largest holding.

Other large investors have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Lockheed Martin in the fourth quarter worth $552,000. Quarry LP raised its holdings in Lockheed Martin by 134.4% in the fourth quarter. Quarry LP now owns 300 shares of the aerospace company's stock worth $146,000 after purchasing an additional 172 shares during the period. Mendel Capital Management LLC raised its holdings in Lockheed Martin by 1.7% in the fourth quarter. Mendel Capital Management LLC now owns 2,483 shares of the aerospace company's stock worth $1,207,000 after purchasing an additional 42 shares during the period. Whalerock Point Partners LLC raised its holdings in Lockheed Martin by 2.5% in the fourth quarter. Whalerock Point Partners LLC now owns 8,798 shares of the aerospace company's stock worth $4,275,000 after purchasing an additional 213 shares during the period. Finally, Berger Financial Group Inc raised its holdings in Lockheed Martin by 0.5% in the fourth quarter. Berger Financial Group Inc now owns 16,642 shares of the aerospace company's stock worth $8,087,000 after purchasing an additional 82 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LMT has been the topic of several analyst reports. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a report on Wednesday, April 23rd. StockNews.com raised shares of Lockheed Martin from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Barclays lowered their target price on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a "buy" rating to a "hold" rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and an average price target of $544.79.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by company insiders.

Lockheed Martin Price Performance

Shares of LMT stock traded up $1.72 during trading hours on Wednesday, reaching $477.60. The company's stock had a trading volume of 1,094,845 shares, compared to its average volume of 1,253,811. The firm's 50 day simple moving average is $457.45 and its 200-day simple moving average is $489.91. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $111.90 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current 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.