Alley Co LLC boosted its stake in shares of Lockheed Martin Corp. (NYSE:LMT) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 24,293 shares of the company’s stock after buying an additional 707 shares during the period. Lockheed Martin Corp. accounts for 2.7% of Alley Co LLC’s portfolio, making the stock its 6th largest position. Alley Co LLC’s holdings in Lockheed Martin Corp. were worth $6,029,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of LMT. Americafirst Capital Management LLC purchased a new position in Lockheed Martin Corp. during the second quarter valued at about $103,000. Signaturefd LLC boosted its position in Lockheed Martin Corp. by 14.9% in the second quarter. Signaturefd LLC now owns 546 shares of the company’s stock valued at $135,000 after buying an additional 71 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Lockheed Martin Corp. by 24.4% in the second quarter. Quadrant Capital Group LLC now owns 684 shares of the company’s stock valued at $161,000 after buying an additional 134 shares in the last quarter. Zions Bancorporation boosted its position in Lockheed Martin Corp. by 102.3% in the first quarter. Zions Bancorporation now owns 809 shares of the company’s stock valued at $182,000 after buying an additional 409 shares in the last quarter. Finally, Williams Jones & Associates LLC purchased a new position in Lockheed Martin Corp. during the first quarter valued at about $185,000. Institutional investors and hedge funds own 83.82% of the company’s stock.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.20% on Wednesday, reaching $232.33. The company’s stock had a trading volume of 992,355 shares. The company has a market cap of $70.37 billion, a P/E ratio of 19.35 and a beta of 0.59. Lockheed Martin Corp. has a 52-week low of $200.47 and a 52-week high of $266.93. The firm’s 50-day moving average price is $239.18 and its 200 day moving average price is $242.40.
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 analysts’ consensus estimates of $2.93 by $0.39. The company had revenue of $12.90 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $2.94 EPS. Equities analysts anticipate that Lockheed Martin Corp. will post $11.75 EPS for the current fiscal year.
The firm also recently disclosed 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. This represents a $7.28 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. The ex-dividend date is Tuesday, November 29th. Lockheed Martin Corp.’s payout ratio is currently 56.51%.
Several research firms recently issued reports on LMT. Argus raised their price target on Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Citigroup Inc. reiterated a “buy” rating and issued a $284.00 price target (up previously from $239.00) on shares of Lockheed Martin Corp. in a report on Tuesday, September 6th. Robert W. Baird began coverage on Lockheed Martin Corp. in a report on Wednesday, October 5th. They issued an “outperform” rating and a $284.00 price target on the stock. Zacks Investment Research upgraded Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $288.00 price target on the stock in a report on Monday, July 18th. Finally, Jefferies Group reissued a “hold” rating on shares of Lockheed Martin Corp. in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus 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 dated 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 transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $7,979,088. The sale 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 dated Friday, July 22nd. The shares were 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 directly owns 29,120 shares in the company, valued at $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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