Manchester Financial Inc. Invests $95,000 in Lockheed Martin Co. (NYSE:LMT)

Manchester Financial Inc. bought a new position in Lockheed Martin Co. (NYSE:LMT) in the second quarter, HoldingsChannel reports. The firm bought 261 shares of the aerospace company’s stock, valued at approximately $95,000.

Other institutional investors also recently made changes to their positions in the company. EFG Asset Management Americas Corp. lifted its stake in shares of Lockheed Martin by 70.7% during the 1st quarter. EFG Asset Management Americas Corp. now owns 3,059 shares of the aerospace company’s stock worth $918,000 after acquiring an additional 1,267 shares during the last quarter. Cypress Capital Management LLC lifted its stake in shares of Lockheed Martin by 9.4% during the 1st quarter. Cypress Capital Management LLC now owns 1,754 shares of the aerospace company’s stock worth $526,000 after acquiring an additional 150 shares during the last quarter. Carroll Financial Associates Inc. lifted its stake in shares of Lockheed Martin by 44.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,252 shares of the aerospace company’s stock worth $455,000 after acquiring an additional 386 shares during the last quarter. United Asset Strategies Inc. lifted its stake in shares of Lockheed Martin by 1.3% during the 1st quarter. United Asset Strategies Inc. now owns 4,943 shares of the aerospace company’s stock worth $1,484,000 after acquiring an additional 62 shares during the last quarter. Finally, Old North State Trust LLC lifted its stake in shares of Lockheed Martin by 138.6% during the 1st quarter. Old North State Trust LLC now owns 2,066 shares of the aerospace company’s stock worth $620,000 after acquiring an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 78.47% of the company’s stock.

A number of equities research analysts recently issued reports on LMT shares. UBS Group raised their price target on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Robert W. Baird raised their price target on Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Credit Suisse Group raised their price target on Lockheed Martin from $369.00 to $379.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their target price on Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $366.43.

In related news, Chairman Marillyn A. Hewson sold 19,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 46,534 shares of the company’s stock, valued at approximately $17,177,560.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maryanne Lavan sold 1,003 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total value of $366,596.50. Following the completion of the transaction, the senior vice president now directly owns 1,478 shares of the company’s stock, valued at approximately $540,209. The disclosure for this sale can be found here. Insiders sold a total of 22,503 shares of company stock valued at $8,292,527 in the last ninety days. 0.35% of the stock is currently owned by insiders.

Shares of NYSE LMT opened at $363.09 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36. The firm’s fifty day moving average price is $362.46. The company has a market cap of $103.35 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.43 and a beta of 0.96. Lockheed Martin Co. has a twelve month low of $241.18 and a twelve month high of $373.37.

Lockheed Martin (NYSE:LMT) last issued its 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 business had revenue of $14.42 billion during the quarter, compared to analyst estimates of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. Lockheed Martin’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.31 EPS. On average, equities research analysts anticipate that Lockheed Martin Co. will post 21.23 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, August 30th. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.

About Lockheed Martin

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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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