Precedent Wealth Partners LLC Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

Precedent Wealth Partners LLC grew its position in Lockheed Martin Co. (NYSE:LMT) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,893 shares of the aerospace company’s stock after buying an additional 119 shares during the period. Precedent Wealth Partners LLC’s holdings in Lockheed Martin were worth $1,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board boosted its stake in Lockheed Martin by 110.2% during the second quarter. Public Sector Pension Investment Board now owns 7,847 shares of the aerospace company’s stock worth $3,665,000 after buying an additional 4,114 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $300,000. Dark Forest Capital Management LP increased its holdings in Lockheed Martin by 56.1% in the 2nd quarter. Dark Forest Capital Management LP now owns 1,044 shares of the aerospace company’s stock valued at $488,000 after purchasing an additional 375 shares during the last quarter. MBB Public Markets I LLC raised its position in Lockheed Martin by 2,674.4% in the second quarter. MBB Public Markets I LLC now owns 15,398 shares of the aerospace company’s stock valued at $7,192,000 after purchasing an additional 14,843 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Lockheed Martin by 1.3% during the second quarter. Mackenzie Financial Corp now owns 125,730 shares of the aerospace company’s stock worth $58,728,000 after purchasing an additional 1,654 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $496.96 on Friday. The stock’s 50-day simple moving average is $499.24 and its 200-day simple moving average is $536.23. The firm has a market capitalization of $117.80 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LMT. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Citigroup lowered their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $577.73.

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.