Truist Financial Corp Grows Holdings in Lockheed Martin Corporation $LMT

Truist Financial Corp raised its position in Lockheed Martin Corporation (NYSE:LMT) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 295,219 shares of the aerospace company’s stock after buying an additional 14,336 shares during the period. Truist Financial Corp’s holdings in Lockheed Martin were worth $147,376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Old North State Wealth Management LLC grew its stake in Lockheed Martin by 2.0% during the 3rd quarter. Old North State Wealth Management LLC now owns 1,073 shares of the aerospace company’s stock valued at $539,000 after purchasing an additional 21 shares in the last quarter. Broadway Wealth Solutions Inc. boosted its stake in shares of Lockheed Martin by 4.5% during the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company’s stock valued at $237,000 after buying an additional 22 shares during the last quarter. Fairvoy Private Wealth LLC grew its position in shares of Lockheed Martin by 3.1% during the second quarter. Fairvoy Private Wealth LLC now owns 775 shares of the aerospace company’s stock worth $359,000 after buying an additional 23 shares in the last quarter. Barnes Wealth Management Group Inc grew its position in shares of Lockheed Martin by 4.2% during the second quarter. Barnes Wealth Management Group Inc now owns 567 shares of the aerospace company’s stock worth $263,000 after buying an additional 23 shares in the last quarter. Finally, Collective Family Office LLC increased its stake in shares of Lockheed Martin by 4.6% in the third quarter. Collective Family Office LLC now owns 527 shares of the aerospace company’s stock worth $263,000 after buying an additional 23 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Lockheed Martin from $513.00 to $580.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. TD Cowen boosted their price objective on Lockheed Martin from $520.00 to $600.00 and gave the company a “hold” rating in a report on Wednesday, January 14th. Truist Financial set a $605.00 price objective on Lockheed Martin and gave the company a “buy” rating in a research note on Friday, January 9th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $586.00 target price on shares of Lockheed Martin in a report on Monday, January 12th. Finally, The Goldman Sachs Group boosted their price target on Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a report on Friday, October 10th. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $543.82.

Lockheed Martin Price Performance

Shares of LMT opened at $595.03 on Wednesday. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $596.22. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. The stock has a fifty day moving average price of $500.56 and a 200 day moving average price of $477.85. The company has a market cap of $137.69 billion, a P/E ratio of 33.22, a PEG ratio of 1.66 and a beta of 0.24.

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.