Hyman Charles D Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Hyman Charles D raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.8% during the 2nd quarter, Holdings Channel reports. The firm owned 31,710 shares of the aerospace company’s stock after purchasing an additional 250 shares during the quarter. Hyman Charles D’s holdings in Lockheed Martin were worth $11,528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in Lockheed Martin by 25.3% during the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock worth $894,874,000 after purchasing an additional 691,751 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in Lockheed Martin by 38,923.0% during the second quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock worth $134,122,000 after purchasing an additional 1,337,784 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Lockheed Martin by 1.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,403 shares of the aerospace company’s stock worth $310,787,000 after purchasing an additional 18,777 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Lockheed Martin by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 680,087 shares of the aerospace company’s stock worth $178,074,000 after purchasing an additional 37,194 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in Lockheed Martin by 3.7% during the first quarter. Eagle Asset Management Inc. now owns 428,151 shares of the aerospace company’s stock worth $128,513,000 after purchasing an additional 15,359 shares during the last quarter. 78.47% of the stock is currently owned by institutional investors.

In other news, Chairman Marillyn A. Hewson sold 19,500 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $369.14, for a total value of $7,198,230.00. Following the completion of the sale, the chairman now owns 46,534 shares of the company’s stock, valued at $17,177,560.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth R. Possenriede sold 2,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $363.85, for a total transaction of $727,700.00. The disclosure for this sale can be found here. Insiders sold 22,503 shares of company stock valued at $8,292,527 in the last three months. Company insiders own 0.35% of the company’s stock.

LMT has been the subject of several research analyst reports. ValuEngine raised shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Credit Suisse Group upped their price target on shares of Lockheed Martin from $369.00 to $379.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Cowen reaffirmed a “buy” rating and set a $360.00 price target on shares of Lockheed Martin in a research report on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target for the company in a research report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $366.43.

Shares of Lockheed Martin stock traded down $1.18 during trading hours on Friday, hitting $361.91. The company’s stock had a trading volume of 836,245 shares, compared to its average volume of 1,167,834. Lockheed Martin Co. has a 1-year low of $241.18 and a 1-year high of $373.37. The firm has a fifty day moving average price of $362.76. The firm has a market cap of $102.54 billion, a P/E ratio of 20.28, a PEG ratio of 2.41 and a beta of 0.98. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The company had revenue of $14.42 billion during the quarter, compared to analyst estimates of $14.17 billion. During the same quarter in the prior year, the business earned $4.31 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that Lockheed Martin Co. will post 21.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, August 30th. Lockheed Martin’s payout ratio is currently 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.

Further Reading: How mutual funds make money

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

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