Moneta Group Investment Advisors LLC grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 547.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,570 shares of the aerospace company’s stock after acquiring an additional 8,091 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Lockheed Martin were worth $677,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Lockheed Martin by 25.3% during the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock worth $894,874,000 after buying an additional 691,751 shares during the period. Buckhead Capital Management LLC grew its holdings in shares of Lockheed Martin by 119.8% during the first quarter. Buckhead Capital Management LLC now owns 17,542 shares of the aerospace company’s stock valued at $5,265,000 after buying an additional 9,560 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Lockheed Martin by 0.8% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 321,658 shares of the aerospace company’s stock valued at $96,549,000 after acquiring an additional 2,493 shares during the period. Ibex Wealth Advisors increased its position in shares of Lockheed Martin by 4.8% in the 1st quarter. Ibex Wealth Advisors now owns 14,556 shares of the aerospace company’s stock valued at $4,369,000 after acquiring an additional 667 shares during the period. Finally, Icon Advisers Inc. Co. acquired a new position in shares of Lockheed Martin in the 1st quarter valued at $3,902,000. 78.94% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on LMT shares. Credit Suisse Group lifted their price target on Lockheed Martin from $369.00 to $379.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Barclays raised their price objective on Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. UBS Group lifted their target price on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $367.86.
In other news, SVP Maryanne Lavan sold 1,003 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total transaction of $366,596.50. Following the sale, the senior vice president now directly owns 1,478 shares of the company’s stock, valued at approximately $540,209. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James D. Taiclet, Jr. bought 1,354 shares of the stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $376.32 per share, for a total transaction of $509,537.28. Following the completion of 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 have sold a total of 22,503 shares of company stock worth $8,292,527 in the last ninety days. Corporate insiders own 0.35% of the company’s stock.
Shares of NYSE LMT traded down $0.20 during trading on Wednesday, reaching $381.12. 642,221 shares of the company traded hands, compared to its average volume of 881,661. The firm’s fifty day simple moving average is $375.60 and its 200 day simple moving average is $341.97. The stock has a market cap of $107.68 billion, a P/E ratio of 21.35, a PEG ratio of 2.52 and a beta of 0.95. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $393.43. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.26. The business had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.31 EPS. As a group, research analysts expect that Lockheed Martin Co. will post 21.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, August 30th. Lockheed Martin’s payout ratio is presently 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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