Richard Bernstein Advisors LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,559 shares of the aerospace company’s stock after acquiring an additional 1,641 shares during the period. Richard Bernstein Advisors LLC’s holdings in Lockheed Martin were worth $5,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Charles Schwab Investment Advisory Inc. acquired a new position in Lockheed Martin in the second quarter valued at $240,085,000. American Century Companies Inc. boosted its stake in Lockheed Martin by 121.4% in the second quarter. American Century Companies Inc. now owns 1,275,669 shares of the aerospace company’s stock valued at $376,871,000 after acquiring an additional 699,579 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Lockheed Martin by 32,852.9% in the first quarter. Summit Trail Advisors LLC now owns 483,748 shares of the aerospace company’s stock valued at $484,000 after acquiring an additional 482,280 shares in the last quarter. Millennium Management LLC boosted its stake in Lockheed Martin by 211.4% in the first quarter. Millennium Management LLC now owns 588,674 shares of the aerospace company’s stock valued at $198,931,000 after acquiring an additional 399,639 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Lockheed Martin by 579.9% during the first quarter. Point72 Asset Management L.P. now owns 388,919 shares of the aerospace company’s stock worth $131,427,000 after buying an additional 331,719 shares during the period. Institutional investors own 78.10% of the company’s stock.
In related news, Chairman Marillyn A. Hewson sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $323.68, for a total value of $8,092,000.00. Following the completion of the sale, the chairman now owns 90,625 shares in the company, valued at $29,333,500. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maryanne Lavan sold 7,250 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total transaction of $2,346,390.00. Following the completion of the sale, the senior vice president now owns 9,869 shares of the company’s stock, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
Shares of NYSE:LMT opened at $324.32 on Thursday. The company has a debt-to-equity ratio of 28.14, a current ratio of 1.19 and a quick ratio of 0.97. The stock has a market capitalization of $92.37 billion, a P/E ratio of 24.33, a PEG ratio of 2.56 and a beta of 0.71. Lockheed Martin Co. has a 52 week low of $291.52 and a 52 week high of $363.00.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 EPS for the quarter, beating the Zacks’ consensus estimate of $3.92 by $0.39. The firm had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $12.72 billion. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 earnings per share. sell-side analysts anticipate that Lockheed Martin Co. will post 17.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be given a $2.00 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 2.47%. Lockheed Martin’s payout ratio is currently 60.02%.
Several brokerages have recently weighed in on LMT. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. UBS Group began coverage on shares of Lockheed Martin in a research note on Wednesday, August 15th. They set a “buy” rating and a $400.00 target price for the company. Berenberg Bank upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Bank of America increased their target price on shares of Lockheed Martin from $400.00 to $412.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, Credit Suisse Group increased their target price on shares of Lockheed Martin from $355.00 to $340.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $372.02.
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.
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