Huber Financial Advisors LLC acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 600 shares of the aerospace company’s stock, valued at approximately $218,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Private Trust Co. NA increased its position in Lockheed Martin by 0.5% during the 2nd quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock worth $1,957,000 after purchasing an additional 28 shares in the last quarter. Independence Bank of Kentucky increased its position in Lockheed Martin by 12.0% in the 2nd quarter. Independence Bank of Kentucky now owns 280 shares of the aerospace company’s stock valued at $102,000 after acquiring an additional 30 shares during the period. Psagot Investment House Ltd. increased its position in Lockheed Martin by 2.7% in the 1st quarter. Psagot Investment House Ltd. now owns 1,164 shares of the aerospace company’s stock valued at $349,000 after acquiring an additional 31 shares during the period. Ballentine Partners LLC increased its position in Lockheed Martin by 4.0% in the 1st quarter. Ballentine Partners LLC now owns 833 shares of the aerospace company’s stock valued at $250,000 after acquiring an additional 32 shares during the period. Finally, YorkBridge Wealth Partners LLC increased its position in Lockheed Martin by 5.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 640 shares of the aerospace company’s stock valued at $233,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 78.70% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Robert W. Baird upped their price target on shares of Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Bank of America restated a “buy” rating and issued a $400.00 price target (up from $390.00) on shares of Lockheed Martin in a research report on Wednesday, April 24th. Finally, Morgan Stanley upped their price target on shares of Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Seven investment 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 stock. The company has a consensus rating of “Buy” and a consensus price target of $367.86.
Shares of NYSE:LMT traded up $3.01 during trading on Monday, reaching $380.01. The stock had a trading volume of 283,402 shares, compared to its average volume of 1,171,181. The firm’s fifty day moving average is $366.95 and its 200 day moving average is $332.26. 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 $381.51. The stock has a market cap of $107.24 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 2.48 and a beta of 0.97.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating the Zacks’ 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 company had revenue of $14.42 billion for the quarter, compared to analyst estimates of $14.17 billion. During the same period in the prior year, the firm posted $4.31 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 21.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, August 30th. Lockheed Martin’s dividend payout ratio is currently 49.30%.
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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