Concert Wealth Management Inc. boosted its position in Lockheed Martin Corp. (NYSE:LMT) by 17.6% during the second quarter, Holdings Channel reports. The fund owned 7,317 shares of the company’s stock after buying an additional 1,097 shares during the period. Concert Wealth Management Inc.’s holdings in Lockheed Martin Corp. were worth $1,803,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Americafirst Capital Management LLC purchased a new position in shares of Lockheed Martin Corp. during the second quarter worth $103,000. Quadrant Capital Group LLC raised its position in shares of Lockheed Martin Corp. by 24.4% in the second quarter. Quadrant Capital Group LLC now owns 684 shares of the company’s stock worth $161,000 after buying an additional 134 shares during the last quarter. Zions Bancorporation raised its position in shares of Lockheed Martin Corp. by 102.3% in the first quarter. Zions Bancorporation now owns 809 shares of the company’s stock worth $182,000 after buying an additional 409 shares during the last quarter. Williams Jones & Associates LLC purchased a new position in shares of Lockheed Martin Corp. during the first quarter worth $185,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Lockheed Martin Corp. by 4.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 774 shares of the company’s stock worth $192,000 after buying an additional 33 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded up 0.481% during mid-day trading on Wednesday, reaching $232.965. The company had a trading volume of 533,755 shares. Lockheed Martin Corp. has a one year low of $200.47 and a one year high of $266.93. The firm has a 50 day moving average of $241.23 and a 200-day moving average of $242.00. The stock has a market capitalization of $70.57 billion, a P/E ratio of 19.399 and a beta of 0.59.
Lockheed Martin Corp. (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $3.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.93 by $0.39. The business earned $12.90 billion during the quarter, compared to analysts’ expectations of $12.56 billion. Lockheed Martin Corp. had a return on equity of 119.66% and a net margin of 7.37%. During the same quarter in the previous year, the business earned $2.94 earnings per share. Analysts forecast that Lockheed Martin Corp. will post $11.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be paid a $1.82 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $7.28 annualized dividend and a dividend yield of 3.14%. This is a boost from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. Lockheed Martin Corp.’s payout ratio is currently 56.51%.
A number of brokerages have recently weighed in on LMT. Argus upped their target price on Lockheed Martin Corp. from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Citigroup Inc. reaffirmed a “buy” rating and set a $284.00 target price (up from $239.00) on shares of Lockheed Martin Corp. in a research report on Tuesday, September 6th. Robert W. Baird initiated coverage on Lockheed Martin Corp. in a report on Wednesday, October 5th. They set an “outperform” rating and a $284.00 price target for the company. Zacks Investment Research upgraded Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $288.00 price target for the company in a report on Monday, July 18th. Finally, Jefferies Group reiterated a “hold” rating on shares of Lockheed Martin Corp. in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Lockheed Martin Corp. presently has an average rating of “Hold” and an average target price of $259.77.
In other news, insider Sondra L. Barbour sold 66,460 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $255.74, for a total value of $16,996,480.40. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $7,979,088. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlando D. Carvalho sold 12,700 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $254.78, for a total value of $3,235,706.00. Following the completion of the transaction, the insider now owns 29,120 shares of the company’s stock, valued at approximately $7,419,193.60. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
About Lockheed Martin Corp.
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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