Boomfish Wealth Group LLC Has $2.36 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Boomfish Wealth Group LLC decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,061 shares of the aerospace company’s stock after selling 38 shares during the period. Lockheed Martin accounts for about 1.5% of Boomfish Wealth Group LLC’s holdings, making the stock its 25th largest position. Boomfish Wealth Group LLC’s holdings in Lockheed Martin were worth $2,364,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares during the period. Franklin Resources Inc. boosted its stake in Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares during the period. Confluence Investment Management LLC bought a new stake in Lockheed Martin during the 1st quarter valued at approximately $151,402,000. Corient Private Wealth LLC boosted its stake in Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after purchasing an additional 274,680 shares during the period. Finally, Capital Research Global Investors boosted its stake in Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent analyst reports. Morgan Stanley increased their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $541.85.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $0.16 during midday trading on Friday, hitting $560.13. 912,022 shares of the company were exchanged, compared to its average volume of 1,086,350. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a market cap of $134.40 billion, a P/E ratio of 20.50, a PEG ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $564.22. The firm has a 50 day simple moving average of $494.65 and a 200-day simple moving average of $464.56.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping 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 business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter last year, the company earned $6.73 EPS. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.25%. Lockheed Martin’s dividend payout ratio is 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.