Traynor Capital Management Inc. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,029 shares of the aerospace company’s stock after purchasing an additional 501 shares during the period. Traynor Capital Management Inc.’s holdings in Lockheed Martin were worth $2,661,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Western Pacific Wealth Management LP acquired a new position in Lockheed Martin during the 4th quarter valued at approximately $25,000. Counterpoint Mutual Funds LLC purchased a new position in Lockheed Martin in the 4th quarter worth $27,000. TAP Consulting LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at about $31,000. PARK CIRCLE Co purchased a new position in shares of Lockheed Martin in the fourth quarter worth about $36,000. Finally, Horan Securities Inc. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 78.89% of the company’s stock.
In other news, Director John Donovan acquired 568 shares of the company’s stock in a transaction on Thursday, April 21st. The shares were bought at an average cost of $440.55 per share, with a total value of $250,232.40. Following the transaction, the director now owns 568 shares in the company, valued at approximately $250,232.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.
Lockheed Martin (NYSE:LMT – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The aerospace company reported $6.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.22 by $0.22. The firm had revenue of $14.96 billion during the quarter, compared to analysts’ expectations of $15.49 billion. Lockheed Martin had a net margin of 9.45% and a return on equity of 81.35%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $6.56 EPS. As a group, equities analysts expect that Lockheed Martin Co. will post 26.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Wednesday, June 1st will be given a dividend of $2.80 per share. This represents a $11.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Tuesday, May 31st. Lockheed Martin’s dividend payout ratio is presently 49.47%.
Several brokerages have commented on LMT. Argus lifted their price objective on shares of Lockheed Martin from $415.00 to $500.00 in a research note on Wednesday, April 20th. Susquehanna Bancshares boosted their price target on Lockheed Martin from $515.00 to $539.00 in a report on Wednesday, April 20th. Susquehanna raised their price objective on shares of Lockheed Martin from $515.00 to $539.00 in a research note on Wednesday, April 20th. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 25th. Finally, Wells Fargo & Company raised their price objective on Lockheed Martin from $486.00 to $496.00 and gave the company an “equal weight” rating in a report on Wednesday, April 20th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus price target of $448.86.
Lockheed Martin Company Profile (Get Rating)
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, Rotary and Mission Systems, and Space.
- Get a free copy of the StockNews.com research report on Lockheed Martin (LMT)
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