Precedent Wealth Partners LLC Increases Stake in Lockheed Martin Co. (NYSE:LMT)

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Geode Capital Management LLC increased its holdings in Lockheed Martin by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after buying an additional 83,997 shares during the period. FMR LLC increased its holdings in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the period. Wellington Management Group LLP raised its position in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 0.1 %

Shares of Lockheed Martin stock opened at $496.96 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $499.24 and its 200-day simple moving average is $536.23. The stock has a market cap of $117.80 billion, a P/E ratio of 17.99, a P/E/G ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Wall Street Analysts Forecast Growth

Several research firms have commented on LMT. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Susquehanna reduced their price target on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. UBS Group raised their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin 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.