FTB Advisors Inc. raised its stake in Lockheed Martin Co. (NYSE:LMT) by 142.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 359 shares of the aerospace company’s stock after purchasing an additional 211 shares during the quarter. FTB Advisors Inc.’s holdings in Lockheed Martin were worth $105,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Cambridge Financial Group Inc. raised its holdings in shares of Lockheed Martin by 4.4% during the second quarter. Cambridge Financial Group Inc. now owns 20,153 shares of the aerospace company’s stock valued at $5,954,000 after acquiring an additional 849 shares in the last quarter. Bowling Portfolio Management LLC raised its holdings in shares of Lockheed Martin by 85.5% during the second quarter. Bowling Portfolio Management LLC now owns 26,027 shares of the aerospace company’s stock valued at $7,689,000 after acquiring an additional 11,998 shares in the last quarter. HL Financial Services LLC raised its holdings in shares of Lockheed Martin by 4.6% during the second quarter. HL Financial Services LLC now owns 9,390 shares of the aerospace company’s stock valued at $2,775,000 after acquiring an additional 416 shares in the last quarter. Quadrant Private Wealth Management LLC bought a new position in shares of Lockheed Martin during the second quarter valued at approximately $267,000. Finally, Quest Investment Management LLC raised its holdings in shares of Lockheed Martin by 35.1% during the second quarter. Quest Investment Management LLC now owns 44,310 shares of the aerospace company’s stock valued at $13,091,000 after acquiring an additional 11,523 shares in the last quarter. Hedge funds and other institutional investors own 78.33% of the company’s stock.
In other news, Chairman Marillyn A. Hewson sold 25,000 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $323.68, for a total value of $8,092,000.00. Following the sale, the chairman now directly owns 90,625 shares of the company’s stock, valued at $29,333,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 7,250 shares of the stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total value of $2,346,390.00. Following the completion of the sale, the senior vice president now directly owns 9,869 shares in the company, valued at $3,194,003.16. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of equities analysts recently commented on the company. UBS Group assumed coverage on Lockheed Martin in a report on Wednesday. They set a “buy” rating and a $400.00 target price for the company. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $369.00 target price for the company in a report on Friday, April 27th. ValuEngine downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Cowen upgraded Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 target price for the company in a report on Wednesday, July 25th. Finally, Stifel Nicolaus decreased their target price on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $372.02.
Shares of LMT stock opened at $325.23 on Friday. The firm has a market capitalization of $89.17 billion, a P/E ratio of 24.40, a PEG ratio of 2.48 and a beta of 0.71. Lockheed Martin Co. has a twelve month low of $291.52 and a twelve month high of $363.00. The company has a debt-to-equity ratio of 28.14, a quick ratio of 0.97 and a current ratio of 1.19.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.92 by $0.39. The company had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.72 billion. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.23 earnings per share. equities analysts anticipate that Lockheed Martin Co. will post 17.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be paid a $2.00 dividend. The ex-dividend date is Friday, August 31st. This represents a $8.00 annualized dividend and a yield of 2.46%. Lockheed Martin’s payout ratio is 60.02%.
Lockheed Martin Company 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.
Featured Article: How to Invest in Growth Stocks
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.