Clarus Wealth Advisors grew its position in Lockheed Martin Co. (NYSE:LMT) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,713 shares of the aerospace company’s stock after buying an additional 2,449 shares during the quarter. Lockheed Martin accounts for approximately 3.9% of Clarus Wealth Advisors’ holdings, making the stock its 6th biggest holding. Clarus Wealth Advisors’ holdings in Lockheed Martin were worth $5,349,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Cornerstone Advisors Inc. lifted its stake in shares of Lockheed Martin by 44.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 160 shares of the aerospace company’s stock valued at $48,000 after purchasing an additional 49 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in Lockheed Martin during the 1st quarter worth approximately $56,000. Moseley Investment Management Inc. acquired a new position in Lockheed Martin during the 1st quarter worth approximately $1,134,000. CIBC World Markets Inc. lifted its position in Lockheed Martin by 8.7% during the 1st quarter. CIBC World Markets Inc. now owns 83,188 shares of the aerospace company’s stock worth $24,970,000 after acquiring an additional 6,663 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in Lockheed Martin by 5.3% during the 1st quarter. Crestwood Advisors Group LLC now owns 92,900 shares of the aerospace company’s stock worth $27,885,000 after purchasing an additional 4,716 shares during the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.
In other Lockheed Martin news, Director James D. Taiclet, Jr. bought 1,354 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $376.32 per share, for a total transaction of $509,537.28. Following the purchase, the director now directly owns 1,354 shares in the company, valued at $509,537.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maryanne Lavan sold 1,003 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total value of $366,596.50. Following the sale, the senior vice president now owns 1,478 shares of the company’s stock, valued at approximately $540,209. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,503 shares of company stock valued at $8,292,527. 0.35% of the stock is currently owned by corporate insiders.
LMT has been the topic of several analyst reports. Credit Suisse Group lifted their price objective on Lockheed Martin from $379.00 to $401.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley upped their price objective on Lockheed Martin from $376.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. UBS Group upped their price objective on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, DZ Bank restated a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $372.64.
Shares of LMT traded down $5.59 during trading hours on Friday, hitting $381.29. 1,153,489 shares of the company were exchanged, compared to its average volume of 1,134,452. The company has a market cap of $107.91 billion, a PE ratio of 21.36, a PEG ratio of 2.53 and a beta of 0.96. The firm’s 50 day moving average is $385.55 and its 200-day moving average is $354.26. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96. 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 (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.26. The company had revenue of $14.42 billion during the quarter, compared to the consensus estimate of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.31 EPS. As a group, equities analysts forecast that Lockheed Martin Co. will post 21.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, November 29th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio is 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.
Recommended Story: How Do Front-End Loads Impact an Investment?
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.