Baird Financial Group Inc. lifted its position in Lockheed Martin Co. (NYSE:LMT) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 49,251 shares of the aerospace company’s stock after buying an additional 3,549 shares during the period. Baird Financial Group Inc.’s holdings in Lockheed Martin were worth $14,550,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. FTB Advisors Inc. increased its stake in Lockheed Martin by 142.6% in the second quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 211 shares during the last quarter. Silvant Capital Management LLC bought a new position in Lockheed Martin in the first quarter valued at $114,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Lockheed Martin in the first quarter valued at $116,000. FNY Investment Advisers LLC bought a new position in Lockheed Martin in the second quarter valued at $117,000. Finally, Quad Cities Investment Group LLC bought a new position in Lockheed Martin in the second quarter valued at $131,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
NYSE LMT opened at $328.53 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.19 and a debt-to-equity ratio of 28.14. Lockheed Martin Co. has a 12-month low of $291.52 and a 12-month high of $363.00. The stock has a market cap of $91.51 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.39. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The business had revenue of $13.40 billion during the quarter, compared to analyst estimates of $12.72 billion. During the same period in the prior year, the business posted $3.23 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. sell-side analysts predict that Lockheed Martin Co. will post 17.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, August 31st. This represents a $8.00 annualized dividend and a yield of 2.44%. Lockheed Martin’s payout ratio is 60.02%.
In other Lockheed Martin news, SVP Maryanne Lavan sold 7,250 shares of the company’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 directly owns 9,869 shares in the company, valued at $3,194,003.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Marillyn A. Hewson sold 25,000 shares of the company’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $323.68, for a total transaction of $8,092,000.00. Following the sale, the chairman now owns 90,625 shares of the company’s stock, valued at $29,333,500. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
LMT has been the topic of a number of research analyst reports. Bank of America increased their target price on Lockheed Martin from $400.00 to $412.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Stifel Nicolaus reduced their target price on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $343.00 target price on the stock in a research note on Wednesday, July 11th. Berenberg Bank raised Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Finally, UBS Group initiated coverage on Lockheed Martin in a research note on Wednesday, August 15th. They issued a “buy” rating and a $400.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Lockheed Martin presently has a consensus rating of “Buy” and an average 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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