Legacy Capital Partners Inc. bought a new position in Lockheed Martin Co. (NYSE:LMT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,200 shares of the aerospace company’s stock, valued at approximately $438,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Benjamin Edwards Inc. boosted its holdings in shares of Lockheed Martin by 89.7% in the 1st quarter. Benjamin Edwards Inc. now owns 74 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Bay Harbor Wealth Management LLC purchased a new stake in shares of Lockheed Martin in the first quarter valued at approximately $25,000. ERTS Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $26,000. Key Financial Inc purchased a new stake in shares of Lockheed Martin in the first quarter valued at approximately $26,000. Finally, HighMark Wealth Management LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 82.00% of the company’s stock.
Shares of LMT stock traded down $4.85 during mid-day trading on Tuesday, hitting $357.76. 736,898 shares of the stock were exchanged, compared to its average volume of 1,639,572. The firm has a fifty day moving average of $378.68 and a 200 day moving average of $385.84. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 3.28. Lockheed Martin Co. has a 52-week low of $266.11 and a 52-week high of $442.53. The company has a market cap of $101.52 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, April 21st. The aerospace company reported $6.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.28. Lockheed Martin had a net margin of 10.21% and a return on equity of 185.10%. The business had revenue of $15.65 billion for the quarter, compared to analyst estimates of $15.07 billion. During the same period in the prior year, the company posted $5.99 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts predict that Lockheed Martin Co. will post 24.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, August 31st. Lockheed Martin’s payout ratio is currently 43.74%.
A number of analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Lockheed Martin from $480.00 to $440.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Credit Suisse Group cut their target price on Lockheed Martin from $435.00 to $433.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. UBS Group cut their target price on Lockheed Martin from $482.00 to $475.00 and set a “buy” rating on the stock in a research report on Thursday, June 11th. Cowen assumed coverage on shares of Lockheed Martin in a report on Tuesday, April 21st. They issued a “buy” rating and a $410.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of Lockheed Martin from $385.00 to $407.00 and gave the company an “equal weight” rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $439.31.
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.
Further Reading: Return On Assets
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