Traynor Capital Management Inc. Purchases 3,772 Shares of Lockheed Martin Co. (NYSE:LMT)

Traynor Capital Management Inc. raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 276.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,136 shares of the aerospace company’s stock after acquiring an additional 3,772 shares during the period. Traynor Capital Management Inc.’s holdings in Lockheed Martin were worth $1,856,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA raised its position in shares of Lockheed Martin by 0.5% during the second quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock valued at $1,957,000 after buying an additional 28 shares during the last quarter. Independence Bank of Kentucky raised its position in shares of Lockheed Martin by 12.0% during the second quarter. Independence Bank of Kentucky now owns 280 shares of the aerospace company’s stock valued at $102,000 after buying an additional 30 shares during the last quarter. Psagot Investment House Ltd. raised its position in shares of Lockheed Martin by 2.7% during the first quarter. Psagot Investment House Ltd. now owns 1,164 shares of the aerospace company’s stock valued at $349,000 after buying an additional 31 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Lockheed Martin by 4.0% during the first quarter. Ballentine Partners LLC now owns 833 shares of the aerospace company’s stock valued at $250,000 after buying an additional 32 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC raised its position in shares of Lockheed Martin by 5.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 640 shares of the aerospace company’s stock valued at $233,000 after buying an additional 33 shares during the last quarter. Institutional investors own 78.50% of the company’s stock.

In other news, Chairman Marillyn A. Hewson sold 19,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $369.14, for a total transaction of $7,198,230.00. Following the sale, the chairman now directly owns 46,534 shares of the company’s stock, valued at $17,177,560.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maryanne Lavan sold 1,003 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total transaction of $366,596.50. Following the sale, the senior vice president now directly owns 1,478 shares in the company, valued at $540,209. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock worth $8,292,527 over the last three months. 0.35% of the stock is owned by insiders.

A number of research analysts have recently commented on LMT shares. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price objective for the company in a research report on Thursday, April 25th. UBS Group increased their price target on shares of Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Cowen reissued a “buy” rating and issued a $360.00 price target on shares of Lockheed Martin in a research report on Wednesday, April 24th. ValuEngine raised shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird upped their price objective on shares of Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Seven equities research 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. Lockheed Martin currently has a consensus rating of “Buy” and an average target price of $366.43.

Lockheed Martin stock traded up $3.46 during trading hours on Wednesday, hitting $370.24. 729,143 shares of the stock were exchanged, compared to its average volume of 1,173,803. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $373.37. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36. The stock has a 50-day moving average of $363.70. The stock has a market capitalization of $103.95 billion, a PE ratio of 20.74, a P/E/G ratio of 2.40 and a beta of 0.97.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $14.42 billion for the quarter, compared to analysts’ expectations of $14.17 billion. During the same period in the prior year, the firm earned $4.31 earnings per share. Lockheed Martin’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that Lockheed Martin Co. will post 21.23 EPS for the current year.

The business 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. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 annualized dividend and a dividend yield of 2.38%. Lockheed Martin’s dividend payout ratio (DPR) is currently 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.

Read More: What Is An Exchange-Traded Fund (ETF)?

Institutional Ownership by Quarter for Lockheed Martin (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.