Innova Wealth Partners Makes New $269,000 Investment in Lockheed Martin Co. (NYSE:LMT)

Innova Wealth Partners purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 553 shares of the aerospace company’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. CVA Family Office LLC grew its position in Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after purchasing an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. lifted its position in Lockheed Martin by 4.0% during the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after buying an additional 18 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after buying an additional 18 shares during the last quarter. Sunburst Financial Group LLC grew its holdings in shares of Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC increased its position in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 19 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on shares of Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, TD Cowen upped their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $601.79.

Lockheed Martin Stock Performance

NYSE:LMT opened at $464.42 on Wednesday. The stock has a 50 day simple moving average of $516.04 and a 200 day simple moving average of $535.36. The stock has a market cap of $110.08 billion, a P/E ratio of 16.81, a PEG 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. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

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.