Perpetual Ltd Increases Position in Lockheed Martin Co. (NYSE:LMT)

Perpetual Ltd lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 16.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,425 shares of the aerospace company’s stock after buying an additional 200 shares during the period. Perpetual Ltd’s holdings in Lockheed Martin were worth $556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Lockheed Martin by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 21,642,359 shares of the aerospace company’s stock worth $7,867,863,000 after purchasing an additional 111,239 shares during the period. Northern Trust Corp raised its holdings in shares of Lockheed Martin by 1.3% in the 2nd quarter. Northern Trust Corp now owns 3,153,040 shares of the aerospace company’s stock worth $1,146,256,000 after purchasing an additional 41,269 shares during the period. Invesco Ltd. raised its holdings in shares of Lockheed Martin by 360.8% in the 2nd quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock worth $950,739,000 after purchasing an additional 2,047,707 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Lockheed Martin by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,981,732 shares of the aerospace company’s stock worth $720,440,000 after purchasing an additional 9,767 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lockheed Martin by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,940,513 shares of the aerospace company’s stock worth $705,455,000 after purchasing an additional 72,256 shares during the period. Hedge funds and other institutional investors own 78.32% of the company’s stock.

LMT has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their price target on shares of Lockheed Martin from $376.00 to $381.00 and gave the stock an “equal weight” rating in a report on Thursday. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. UBS Group boosted their target price on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Credit Suisse Group reissued an “in-line” rating and set a $401.00 target price (up previously from $379.00) on shares of Lockheed Martin in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Lockheed Martin presently has an average rating of “Buy” and a consensus target price of $372.64.

In other news, Director James D. Taiclet, Jr. purchased 1,354 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $376.32 per share, with a total value of $509,537.28. Following the completion of the acquisition, the director now owns 1,354 shares in the company, valued at approximately $509,537.28. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maryanne Lavan sold 1,003 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the transaction, the senior vice president now directly owns 1,478 shares in the company, valued at approximately $540,209. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,503 shares of company stock worth $8,292,527. Insiders own 0.35% of the company’s stock.

LMT stock traded up $1.84 during midday trading on Thursday, reaching $386.45. 390,620 shares of the company’s stock traded hands, compared to its average volume of 1,149,277. The company has a 50-day moving average price of $385.46 and a two-hundred day moving average price of $353.80. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96. The firm has a market capitalization of $108.38 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.55 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The business had revenue of $14.42 billion for the quarter, compared to analysts’ expectations of $14.17 billion. During the same quarter in the previous year, the firm posted $4.31 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin Co. will post 21.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $2.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $9.60 annualized dividend and a dividend yield of 2.48%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio is presently 49.30%.

Lockheed Martin 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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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