LifePro Asset Management Has $407,000 Position in Lockheed Martin Co. (NYSE:LMT)

LifePro Asset Management raised its stake in Lockheed Martin Co. (NYSE:LMT) by 29.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 885 shares of the aerospace company’s stock after purchasing an additional 201 shares during the period. LifePro Asset Management’s holdings in Lockheed Martin were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LMT. Argent Trust Co grew its stake in shares of Lockheed Martin by 1.6% in the first quarter. Argent Trust Co now owns 33,538 shares of the aerospace company’s stock valued at $15,854,000 after acquiring an additional 535 shares in the last quarter. Merit Financial Group LLC grew its stake in Lockheed Martin by 8.8% during the first quarter. Merit Financial Group LLC now owns 7,358 shares of the aerospace company’s stock worth $3,478,000 after buying an additional 596 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in Lockheed Martin during the first quarter worth about $6,709,000. Park National Corp OH grew its stake in Lockheed Martin by 41.1% during the second quarter. Park National Corp OH now owns 46,614 shares of the aerospace company’s stock worth $21,460,000 after buying an additional 13,567 shares in the last quarter. Finally, Fulcrum Equity Management raised its holdings in Lockheed Martin by 69.5% in the 2nd quarter. Fulcrum Equity Management now owns 756 shares of the aerospace company’s stock valued at $348,000 after buying an additional 310 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, Director John Donovan bought 548 shares of the stock in a transaction dated Wednesday, July 19th. The shares were bought at an average cost of $457.07 per share, for a total transaction of $250,474.36. Following the purchase, the director now directly owns 3,378 shares of the company’s stock, valued at approximately $1,543,982.46. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LMT. Morgan Stanley reiterated an “equal weight” rating and issued a $532.00 price objective on shares of Lockheed Martin in a report on Wednesday, July 19th. StockNews.com began coverage on shares of Lockheed Martin in a report on Thursday, August 17th. They set a “buy” rating for the company. Citigroup lowered their price target on shares of Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Royal Bank of Canada lowered their price target on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a report on Wednesday, July 19th. Finally, Wells Fargo & Company upgraded shares of Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 price target for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $499.43.

Lockheed Martin Stock Up 0.7 %

NYSE LMT traded up $3.15 during mid-day trading on Monday, hitting $427.20. The company’s stock had a trading volume of 109,370 shares, compared to its average volume of 1,196,139. The company’s 50 day simple moving average is $447.76 and its 200 day simple moving average is $459.96. Lockheed Martin Co. has a twelve month low of $381.55 and a twelve month high of $508.10. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $107.58 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 2.40 and a beta of 0.65.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.28. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. The business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same period last year, the business earned $6.32 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Analysts anticipate that Lockheed Martin Co. will post 27.07 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is presently 43.88%.

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, Rotary and Mission Systems, and Space.