Topsail Wealth Management LLC Takes Position in Lockheed Martin Co. (NYSE:LMT)

Topsail Wealth Management LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 762 shares of the aerospace company's stock, valued at approximately $370,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Morse Asset Management Inc raised its stake in Lockheed Martin by 1.0% during the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company's stock valued at $1,788,000 after acquiring an additional 31 shares during the last quarter. Tudor Financial Inc. acquired a new stake in Lockheed Martin in the third quarter worth $557,000. Anchor Investment Management LLC boosted its holdings in Lockheed Martin by 8.4% during the third quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company's stock worth $2,411,000 after buying an additional 320 shares in the last quarter. Fulcrum Equity Management lifted its holdings in shares of Lockheed Martin by 4.7% during the third quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company's stock valued at $526,000 after purchasing an additional 40 shares during the last quarter. Finally, Sculati Wealth Management LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at $258,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction 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 sale, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by corporate insiders.

Lockheed Martin Trading Down 0.4 %

NYSE LMT traded down $1.97 during trading hours on Tuesday, hitting $474.32. 294,818 shares of the company's stock were exchanged, compared to its average volume of 1,248,762. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The business's 50 day moving average is $456.67 and its 200-day moving average is $490.01. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a market capitalization of $111.13 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on LMT. Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price on the stock. Wells Fargo & Company dropped their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised Lockheed Martin from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Royal Bank of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $544.79.

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.