Carlton Hofferkamp & Jenks Wealth Management LLC decreased its position in Lockheed Martin Co. (NYSE:LMT) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,297 shares of the aerospace company’s stock after selling 125 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Lockheed Martin were worth $1,275,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new stake in Lockheed Martin during the 2nd quarter worth approximately $26,000. Paragon Capital Management LLC grew its position in Lockheed Martin by 406.7% during the 2nd quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 61 shares during the last quarter. Accurate Investment Solutions Inc. grew its position in Lockheed Martin by 257.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 54 shares during the last quarter. MRA Associates USA LLC bought a new stake in Lockheed Martin during the 2nd quarter worth approximately $38,000. Finally, Trustcore Financial Services LLC grew its position in Lockheed Martin by 245.5% during the 2nd quarter. Trustcore Financial Services LLC now owns 114 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 81 shares during the last quarter. 78.32% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on LMT. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Credit Suisse Group increased their price objective on Lockheed Martin from $379.00 to $401.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group increased their price objective on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Barclays reiterated a “hold” rating and issued a $410.00 price objective on shares of Lockheed Martin in a research report on Wednesday. Finally, DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $372.64.
In other Lockheed Martin news, Director James D. Taiclet, Jr. acquired 1,354 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $376.32 per share, with a total value of $509,537.28. Following the purchase, the director now owns 1,354 shares of the company’s stock, valued at approximately $509,537.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marillyn A. Hewson sold 19,500 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total value of $7,198,230.00. Following the sale, the chairman now directly owns 46,534 shares in the company, valued at approximately $17,177,560.76. The disclosure for this sale can be found here. In the last three months, insiders sold 22,503 shares of company stock worth $8,292,527. 0.35% of the stock is currently owned by company insiders.
LMT traded down $2.74 during mid-day trading on Friday, reaching $384.14. The stock had a trading volume of 58,695 shares, compared to its average volume of 1,134,452. The stock has a market capitalization of $107.91 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.53 and a beta of 0.96. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. The firm’s fifty day simple moving average is $385.55 and its two-hundred day simple moving average is $354.26. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.74 by $0.26. The company had revenue of $14.42 billion for the quarter, compared to the consensus estimate of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.31 EPS. As a group, analysts expect that Lockheed Martin Co. will post 21.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $2.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio is 49.30%.
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.
See Also: What is a Lock-Up Period?
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).
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.