Cohen Lawrence B Invests $217,000 in Lockheed Martin Co. (NYSE:LMT)

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Cohen Lawrence B purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 598 shares of the aerospace company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised 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 in the last quarter. Thoroughbred Financial Services LLC raised its holdings in Lockheed Martin by 38,923.0% in 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 acquiring an additional 1,337,784 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Lockheed Martin by 1.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,403 shares of the aerospace company’s stock valued at $310,787,000 after acquiring an additional 18,777 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Lockheed Martin by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 680,087 shares of the aerospace company’s stock valued at $178,074,000 after acquiring an additional 37,194 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Lockheed Martin by 3.7% in the 1st quarter. Eagle Asset Management Inc. now owns 428,151 shares of the aerospace company’s stock valued at $128,513,000 after acquiring an additional 15,359 shares in the last quarter. Institutional investors own 78.55% of the company’s stock.

In related news, insider Kenneth R. Possenriede sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $363.85, for a total transaction of $727,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maryanne Lavan sold 1,003 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total value of $366,596.50. Following the sale, the senior vice president now directly owns 1,478 shares of the company’s stock, valued at $540,209. The disclosure for this sale can be found here. Insiders have sold a total of 22,503 shares of company stock valued at $8,292,527 over the last ninety days. Insiders own 0.35% of the company’s stock.

Several equities analysts have commented on LMT shares. Credit Suisse Group upped their price target on Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley upped their price target on Lockheed Martin from $324.00 to $356.00 and gave the company an “equal weight” rating in a report on Friday, June 14th. Robert W. Baird upped their price target on Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Cowen reaffirmed a “buy” rating and issued a $360.00 price target on shares of Lockheed Martin in a report on Wednesday, April 24th. Finally, DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $366.43.

Shares of LMT opened at $377.22 on Wednesday. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $381.51. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. The stock has a 50 day moving average of $366.24. The firm has a market cap of $106.57 billion, a PE ratio of 21.13, a PEG ratio of 2.50 and a beta of 0.97.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The business had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. During the same period in the prior year, the firm posted $4.31 EPS. Lockheed Martin’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin Co. will post 21.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 dividend on an annualized basis and a yield of 2.33%. Lockheed Martin’s dividend payout ratio is 49.30%.

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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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