Westside Investment Management Inc. bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,046 shares of the aerospace company’s stock, valued at approximately $380,000.
A number of other hedge funds have also made changes to their positions in the stock. Thoroughbred Financial Services LLC grew its stake in Lockheed Martin by 38,923.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock valued at $134,122,000 after purchasing an additional 1,337,784 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Lockheed Martin by 25.3% in the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock worth $894,874,000 after buying an additional 691,751 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of Lockheed Martin by 458.3% in the first quarter. Confluence Investment Management LLC now owns 348,533 shares of the aerospace company’s stock worth $104,616,000 after buying an additional 286,105 shares during the last quarter. Waverton Investment Management Ltd boosted its stake in shares of Lockheed Martin by 159.0% in the second quarter. Waverton Investment Management Ltd now owns 235,976 shares of the aerospace company’s stock worth $85,787,000 after buying an additional 144,869 shares during the last quarter. Finally, Pennsylvania Trust Co boosted its stake in shares of Lockheed Martin by 1,081.8% in the first quarter. Pennsylvania Trust Co now owns 129,441 shares of the aerospace company’s stock worth $957,000 after buying an additional 118,488 shares during the last quarter. Hedge funds and other institutional investors own 78.50% of the company’s stock.
A number of analysts have recently commented on LMT shares. ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Morgan Stanley upped their price target on Lockheed Martin from $324.00 to $356.00 and gave the stock an “equal weight” rating in a report on Friday, June 14th. Bank of America reaffirmed a “buy” rating and issued a $400.00 price target (up previously from $390.00) on shares of Lockheed Martin in a report on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price for the company in a report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Lockheed Martin currently has a consensus rating of “Buy” and a consensus target price of $366.43.
Shares of NYSE LMT traded down $3.08 during midday trading on Monday, reaching $358.84. 489,710 shares of the company were exchanged, compared to its average volume of 1,167,834. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $373.37. The company’s fifty day moving average is $362.76. The company has a market capitalization of $102.20 billion, a PE ratio of 20.10, a P/E/G ratio of 2.40 and a beta of 0.98.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The company had revenue of $14.42 billion for the quarter, compared to analyst estimates of $14.17 billion. During the same quarter in the previous year, the company earned $4.31 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities research analysts predict that Lockheed Martin Co. will post 21.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, August 30th. Lockheed Martin’s dividend payout ratio (DPR) 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.
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