Turtle Creek Wealth Advisors LLC Buys 2,205 Shares of Lockheed Martin Corporation $LMT

Turtle Creek Wealth Advisors LLC lifted its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 54.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,223 shares of the aerospace company’s stock after buying an additional 2,205 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Lockheed Martin were worth $3,107,000 as of its most recent SEC filing.

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

Insider Activity

In other news, COO John Frank A. St sold 7,792 shares of Lockheed Martin stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value of $3,826,183.68. Following the transaction, the chief operating officer owned 1 shares in the company, valued at approximately $491.04. This trade represents a 99.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $581.62 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. The company has a market cap of $134.59 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 1.66 and a beta of 0.24. The company has a 50 day moving average of $485.76 and a 200-day moving average of $472.71. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $582.93.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, beating the consensus estimate of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The business had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. During the same period in the previous year, the business earned $6.84 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LMT shares. UBS Group lifted their target price on Lockheed Martin from $513.00 to $580.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen boosted their price objective on shares of Lockheed Martin from $520.00 to $600.00 and gave the company a “hold” rating in a report on Wednesday, January 14th. Sanford C. Bernstein restated a “market perform” rating and set a $586.00 target price on shares of Lockheed Martin in a research report on Monday, January 12th. Jefferies Financial Group lifted their price target on shares of Lockheed Martin from $500.00 to $540.00 and gave the company a “hold” rating in a research report on Monday, January 12th. Finally, Robert W. Baird increased their price target on Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $543.82.

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.