OmniStar Financial Group Inc. grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,719 shares of the aerospace company’s stock after purchasing an additional 287 shares during the quarter. Lockheed Martin makes up approximately 1.3% of OmniStar Financial Group Inc.’s holdings, making the stock its 29th biggest holding. OmniStar Financial Group Inc.’s holdings in Lockheed Martin were worth $1,451,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of LMT. Invesco Ltd. boosted its stake 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 valued at $950,739,000 after purchasing an additional 2,047,707 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Lockheed Martin in the 2nd quarter valued at about $652,536,000. Thoroughbred Financial Services LLC boosted its stake in shares of Lockheed Martin by 38,923.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock valued at $134,122,000 after purchasing an additional 1,337,784 shares during the last quarter. Suvretta Capital Management LLC bought a new position in shares of Lockheed Martin in the 2nd quarter valued at about $233,473,000. Finally, Prudential Financial Inc. boosted its stake in shares of Lockheed Martin by 55.3% in the 2nd quarter. Prudential Financial Inc. now owns 783,131 shares of the aerospace company’s stock valued at $284,699,000 after purchasing an additional 278,709 shares during the last quarter. 78.32% of the stock is currently owned by institutional investors.
Lockheed Martin stock traded down $5.42 during midday trading on Friday, hitting $381.46. 92,507 shares of the stock were exchanged, compared to its average volume of 1,134,452. The company has a fifty day simple moving average of $385.55 and a two-hundred day simple moving average of $354.26. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96. The stock has a market capitalization of $107.91 billion, a PE ratio of 21.37, a P/E/G ratio of 2.53 and a beta of 0.96. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, topping the 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 business had revenue of $14.42 billion for the quarter, compared to analyst estimates of $14.17 billion. During the same quarter last year, the firm earned $4.31 EPS. Lockheed Martin’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 21.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $2.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $9.60 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s payout ratio is presently 49.30%.
In other Lockheed Martin news, SVP Maryanne Lavan sold 1,003 shares of Lockheed Martin 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 transaction, the senior vice president now owns 1,478 shares of the company’s stock, valued at $540,209. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kenneth R. Possenriede sold 2,000 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $363.85, for a total transaction of $727,700.00. 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 has been the topic of several recent research reports. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. Barclays reaffirmed a “hold” rating and issued a $410.00 target price on shares of Lockheed Martin in a research note on Wednesday. Credit Suisse Group lifted their price objective on shares of Lockheed Martin from $379.00 to $401.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group lifted their price objective on shares of Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Lockheed Martin currently has an average rating of “Buy” and a consensus price target of $372.64.
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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