Davis Capital Management Has $832,000 Position in Lockheed Martin Co. (NYSE:LMT)

Davis Capital Management raised its stake in Lockheed Martin Co. (NYSE:LMT) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,784 shares of the aerospace company’s stock after purchasing an additional 68 shares during the period. Davis Capital Management’s holdings in Lockheed Martin were worth $832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Pacific Financial acquired a new position in shares of Lockheed Martin in the first quarter valued at $25,000. Altshuler Shaham Ltd acquired a new position in shares of Lockheed Martin in the fourth quarter valued at about $26,000. Wiser Advisor Group LLC grew its stake in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin in the first quarter valued at about $30,000. Finally, Thompson Investment Management Inc. acquired a new position in shares of Lockheed Martin in the first quarter valued at about $38,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Susquehanna upped their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Finally, Barclays upped their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $526.77.

Lockheed Martin Price Performance

Shares of LMT stock traded down $0.09 on Friday, reaching $548.77. The company had a trading volume of 1,484,756 shares, compared to its average volume of 1,127,651. The stock has a market capitalization of $130.80 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $561.12. The business’s 50-day moving average is $476.89 and its 200 day moving average is $456.78.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.73 earnings per share. Equities research analysts forecast that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company 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. This represents a $12.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

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.