PensionDanmark Pensionsforsikringsaktieselskab increased its stake in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,146 shares of the aerospace company’s stock after buying an additional 2,101 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Lockheed Martin were worth $17,905,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Basso Capital Management L.P. bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $25,000. United Financial Planning Group LLC bought a new position in shares of Lockheed Martin in the third quarter worth $25,000. Clarity Asset Management Inc. bought a new position in shares of Lockheed Martin in the fourth quarter worth $26,000. Triumph Capital Management raised its stake in Lockheed Martin by 66.7% in the fourth quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 22 shares in the last quarter. Finally, Bard Associates Inc. acquired a new position in Lockheed Martin in the fourth quarter valued at about $27,000. Institutional investors own 74.19% of the company’s stock.
Lockheed Martin Stock Performance
NYSE:LMT opened at $587.12 on Friday. Lockheed Martin Corporation has a twelve month low of $423.91 and a twelve month high of $692.00. The company has a quick ratio of 1.01, a current ratio of 1.19 and a debt-to-equity ratio of 2.34. The stock’s 50-day simple moving average is $534.01 and its 200 day simple moving average is $575.86. The firm has a market capitalization of $135.50 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.00 and a beta of 0.10.
Lockheed Martin Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be given a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, September 1st. Lockheed Martin’s dividend payout ratio is currently 50.87%.
Analyst Ratings Changes
A number of brokerages have issued reports on LMT. BNP Paribas Exane reduced their price objective on shares of Lockheed Martin from $770.00 to $680.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. DZ Bank raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Morgan Stanley upped their price target on shares of Lockheed Martin from $653.00 to $690.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. TD Cowen decreased their price objective on shares of Lockheed Martin from $600.00 to $560.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Finally, Citigroup upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $571.00 to $582.00 in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and an average target price of $626.33.
Read Our Latest Analysis on Lockheed Martin
Lockheed Martin Profile
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.
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