Lockheed Martin Co. (NYSE:LMT) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 25.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,970 shares of the aerospace company’s stock after purchasing an additional 2,024 shares during the quarter. 1832 Asset Management L.P.’s holdings in Lockheed Martin were worth $4,535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hudock Inc. boosted its stake in shares of Lockheed Martin by 1.3% in the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after buying an additional 22 shares during the period. Norris Perne & French LLP MI increased its position in Lockheed Martin by 2.8% during the fourth quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock worth $410,000 after buying an additional 25 shares during the period. Genesee Capital Advisors LLC increased its position in Lockheed Martin by 2.8% during the fourth quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock worth $419,000 after buying an additional 25 shares during the period. Hunter Associates Investment Management LLC increased its position in Lockheed Martin by 1.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock worth $912,000 after buying an additional 25 shares during the period. Finally, Missouri Trust & Investment Co increased its position in Lockheed Martin by 19.8% during the fourth quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock worth $68,000 after buying an additional 25 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on LMT. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $540.00 to $600.00 in a research report on Friday. Citigroup upped their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $518.91.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

LMT traded up $3.40 on Friday, hitting $524.80. 1,141,310 shares of the stock traded hands, compared to its average volume of 1,065,686. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $528.64. The company has a current ratio of 1.24, a quick ratio of 1.11 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $125.09 billion, a PE ratio of 19.20, a P/E/G ratio of 4.86 and a beta of 0.46. The business has a fifty day moving average price of $469.59 and a two-hundred day moving average price of $453.90.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the company posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Lockheed Martin Co. will post 26.43 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.40%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.