Redpoint Investment Management Pty Ltd increased its position in Lockheed Martin Co. (NYSE:LMT) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,083 shares of the aerospace company’s stock after buying an additional 1,209 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Lockheed Martin were worth $6,574,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. 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 last quarter. Paragon Capital Management LLC boosted its stake in Lockheed Martin by 406.7% during the 2nd quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 61 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $29,000. Finally, Covenant Multifamily Offices LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $36,000. Institutional investors own 78.70% of the company’s stock.
Shares of Lockheed Martin stock traded down $8.99 during mid-day trading on Friday, hitting $376.89. 1,101,444 shares of the stock were exchanged, compared to its average volume of 975,135. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $386.93. The company has a 50-day simple moving average of $369.12 and a 200 day simple moving average of $334.80. 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 company has a market capitalization of $108.97 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.56 and a beta of 0.97.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, topping 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 firm had revenue of $14.42 billion for the quarter, compared to analysts’ expectations of $14.17 billion. During the same quarter last year, the firm earned $4.31 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts predict that Lockheed Martin Co. will post 21.2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $2.20 per share. The ex-dividend date is Friday, August 30th. This represents a $8.80 annualized dividend and a dividend yield of 2.33%. Lockheed Martin’s dividend payout ratio is currently 49.30%.
LMT has been the subject of a number of analyst reports. Credit Suisse Group lifted their price target on Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Barclays lifted their price target on Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. UBS Group lifted their price target on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $367.86.
In related news, Chairman Marillyn A. Hewson sold 19,500 shares of Lockheed Martin stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $369.14, for a total value of $7,198,230.00. Following the sale, the chairman now owns 46,534 shares of the company’s stock, valued at approximately $17,177,560.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James D. Taiclet, Jr. purchased 1,354 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $376.32 per share, for a total transaction of $509,537.28. Following the acquisition, the director now directly owns 1,354 shares in the company, valued at approximately $509,537.28. The disclosure for this purchase can be found here. In the last three months, insiders have sold 22,503 shares of company stock worth $8,292,527. Insiders own 0.35% of the company’s stock.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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