L & S Advisors Inc lifted its position in Lockheed Martin Co. (NYSE:LMT) by 295.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 21,658 shares of the aerospace company’s stock after buying an additional 16,175 shares during the period. Lockheed Martin comprises about 1.0% of L & S Advisors Inc’s investment portfolio, making the stock its 18th biggest position. L & S Advisors Inc’s holdings in Lockheed Martin were worth $7,873,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC lifted its stake in shares of Lockheed Martin by 38,923.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock valued at $134,122,000 after buying an additional 1,337,784 shares in the last quarter. Geode Capital Management LLC increased its holdings in Lockheed Martin by 25.3% in the 4th quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after acquiring an additional 691,751 shares during the last quarter. Prudential Financial Inc. increased its holdings in Lockheed Martin by 55.3% in the 2nd quarter. Prudential Financial Inc. now owns 783,131 shares of the aerospace company’s stock valued at $284,699,000 after acquiring an additional 278,709 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in Lockheed Martin by 37.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 979,611 shares of the aerospace company’s stock valued at $356,128,000 after acquiring an additional 269,198 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Lockheed Martin by 77.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 344,926 shares of the aerospace company’s stock valued at $123,861,000 after acquiring an additional 150,327 shares during the last quarter. 78.94% of the stock is currently owned by hedge funds and other institutional investors.
Lockheed Martin stock opened at $385.27 on Friday. The firm has a 50-day moving average of $376.12 and a two-hundred day moving average of $342.35. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $393.43. The stock has a market cap of $107.68 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 2.53 and a beta of 0.95. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.20 and a quick ratio of 0.96.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The firm had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. During the same quarter in the prior year, the company earned $4.31 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. Research analysts expect that Lockheed Martin Co. will post 21.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $2.20 dividend. The ex-dividend date is Friday, August 30th. This represents a $8.80 annualized dividend and a dividend yield of 2.28%. Lockheed Martin’s payout ratio is presently 49.30%.
In related news, SVP Maryanne Lavan sold 1,003 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the transaction, the senior vice president now owns 1,478 shares in the company, valued at approximately $540,209. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James D. Taiclet, Jr. acquired 1,354 shares of Lockheed Martin stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $376.32 per share, with a total value of $509,537.28. Following the purchase, the director now owns 1,354 shares in the company, valued at $509,537.28. The disclosure for this purchase can be found here. Insiders sold a total of 22,503 shares of company stock valued at $8,292,527 in the last ninety days. Corporate insiders own 0.35% of the company’s stock.
LMT has been the topic of a number of research reports. Credit Suisse Group boosted their target price on shares of Lockheed Martin from $369.00 to $379.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley upped their price target on shares of Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. UBS Group upped their price target on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Finally, Barclays boosted their price objective on shares of Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $367.86.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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