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

Verdence Capital Advisors LLC grew its position in Lockheed Martin Corporation (NYSE:LMT) by 44.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,299 shares of the aerospace company’s stock after purchasing 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.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LMT. JPMorgan Chase & Co. restated a “neutral” rating and issued a $515.00 price objective (up previously from $465.00) on shares of Lockheed Martin in a research report on Friday, December 19th. Citigroup boosted their target price on Lockheed Martin from $505.00 to $592.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $586.00 price target on shares of Lockheed Martin in a research note on Monday, January 12th. Susquehanna reiterated a “positive” rating and issued a $660.00 price target on shares of Lockheed Martin in a report on Thursday, January 15th. Finally, Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $543.82.

Insider Buying and Selling

In other news, COO John Frank A. St sold 7,792 shares of the company’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 value of $3,826,183.68. Following the completion of the transaction, the chief operating officer owned 1 shares in the company, valued at $491.04. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

Lockheed Martin Trading Down 1.2%

LMT opened at $575.65 on Wednesday. The firm’s fifty day moving average is $488.14 and its two-hundred day moving average is $473.50. The firm has a market cap 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. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $586.85. 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 posted its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The firm had revenue of $18.61 billion during the quarter, compared to analysts’ expectations of $18.45 billion. During the same period in the previous year, the firm earned $6.84 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin 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.