Park Avenue Securities LLC Raises Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Park Avenue Securities LLC boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 11.1% in the second quarter, HoldingsChannel reports. The firm owned 20,436 shares of the aerospace company’s stock after purchasing an additional 2,044 shares during the period. Park Avenue Securities LLC’s holdings in Lockheed Martin were worth $9,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Pacific Financial acquired a new stake in Lockheed Martin during the first quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC raised its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $30,000. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LMT. The Goldman Sachs Group dropped their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Barclays increased their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Bank of America upgraded Lockheed Martin from a “neutral” rating to a “buy” rating and raised their target price for the company from $465.00 to $635.00 in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $534.46.

Lockheed Martin Price Performance

NYSE LMT traded up $6.95 on Wednesday, reaching $548.51. 1,257,470 shares of the stock traded hands, compared to its average volume of 1,097,356. The firm’s fifty day simple moving average is $480.10 and its 200 day simple moving average is $457.97. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market cap of $131.61 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $562.60.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $6.73 EPS. As a group, research analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business 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 dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% 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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.