H D Vest Advisory Services increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 15.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,653 shares of the aerospace company’s stock after buying an additional 1,287 shares during the period. H D Vest Advisory Services’ holdings in Lockheed Martin were worth $3,509,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of LMT. Advisors Preferred LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $26,000. Heritage Wealth Advisors boosted its stake in Lockheed Martin by 304.3% during the 1st quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 70 shares during the period. Ellis Investment Partners LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $29,000. Covenant Multifamily Offices LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $36,000. Finally, Bremer Bank National Association acquired a new position in Lockheed Martin during the 1st quarter valued at about $41,000. 78.70% of the stock is owned by hedge funds and other institutional investors.
Shares of LMT stock traded up $0.27 during midday trading on Thursday, reaching $383.28. 221,163 shares of the company were exchanged, compared to its average volume of 1,121,801. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $384.27. The company has a market cap of $108.28 billion, a P/E ratio of 21.47, a PEG ratio of 2.53 and a beta of 0.97. The company’s 50 day moving average price is $368.62 and its two-hundred day moving average price is $333.88. 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 also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $2.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.30%. Lockheed Martin’s payout ratio is currently 49.30%.
In related news, insider Kenneth R. Possenriede sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $363.85, for a total value of $727,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James D. Taiclet, Jr. bought 1,354 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $376.32 per share, for a total transaction of $509,537.28. Following the completion of the acquisition, the director now directly owns 1,354 shares in the company, valued at $509,537.28. The disclosure for this purchase can be found here. Insiders sold a total of 22,503 shares of company stock worth $8,292,527 over the last quarter. Insiders own 0.35% of the company’s stock.
A number of research firms have issued reports on LMT. Barclays boosted their target price on shares of Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Robert W. Baird boosted their price target on shares of Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Bank of America restated a “buy” rating and set a $400.00 price target (up from $390.00) on shares of Lockheed Martin in a research report on Wednesday, April 24th. Cowen restated a “buy” rating and set a $360.00 price target on shares of Lockheed Martin in a research report on Wednesday, April 24th. Finally, Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target on the stock in a research report on Thursday, April 25th. Seven 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’s stock. The stock has a consensus rating of “Buy” and an average price target of $367.86.
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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