Paragon Capital Management LLC increased its stake in Lockheed Martin Co. (NYSE:LMT) by 406.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76 shares of the aerospace company’s stock after purchasing an additional 61 shares during the quarter. Paragon Capital Management LLC’s holdings in Lockheed Martin were worth $28,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Lockheed Martin by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 680,087 shares of the aerospace company’s stock valued at $178,074,000 after purchasing an additional 37,194 shares during the period. Geode Capital Management LLC boosted its stake in shares of Lockheed Martin by 25.3% in the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after purchasing an additional 691,751 shares during the period. Plimoth Trust Co. LLC boosted its stake in shares of Lockheed Martin by 2.0% in the first quarter. Plimoth Trust Co. LLC now owns 2,251 shares of the aerospace company’s stock valued at $676,000 after purchasing an additional 45 shares during the period. Financial Gravity Wealth Inc. purchased a new position in shares of Lockheed Martin in the first quarter valued at approximately $62,000. Finally, BLB&B Advisors LLC boosted its stake in shares of Lockheed Martin by 16.4% in the first quarter. BLB&B Advisors LLC now owns 3,021 shares of the aerospace company’s stock valued at $907,000 after purchasing an additional 425 shares during the period. 78.70% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on LMT shares. UBS Group raised their price objective on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Barclays raised their price objective on shares of Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Credit Suisse Group lifted their target price on shares of Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Finally, Morgan Stanley lifted their target price on shares of Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Seven equities research 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 company’s stock. Lockheed Martin presently has an average rating of “Buy” and a consensus price target of $367.86.
Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.26. The company had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.31 EPS. As a group, research analysts expect that Lockheed Martin Co. will post 21.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 annualized dividend and a yield of 2.30%. Lockheed Martin’s dividend payout ratio is currently 49.30%.
In other news, Chairman Marillyn A. Hewson sold 19,500 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $369.14, for a total transaction of $7,198,230.00. Following the completion of the sale, the chairman now directly owns 46,534 shares of the company’s stock, valued at approximately $17,177,560.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth R. Possenriede sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $363.85, for a total value of $727,700.00. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock valued at $8,292,527 in the last ninety days. Company 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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