Lockheed Martin Co. (NYSE:LMT) Shares Bought by Narwhal Capital Management

Narwhal Capital Management lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,397 shares of the aerospace company’s stock after purchasing an additional 3,103 shares during the quarter. Lockheed Martin accounts for approximately 1.3% of Narwhal Capital Management’s portfolio, making the stock its 20th largest holding. Narwhal Capital Management’s holdings in Lockheed Martin were worth $13,731,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. First Pacific Financial acquired a new stake in Lockheed Martin during the first quarter valued at $25,000. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin in the 1st quarter worth about $30,000. Stephens Consulting LLC raised its holdings in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Lockheed Martin during the second quarter worth approximately $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.3 %

LMT opened at $566.82 on Friday. The firm has a market capitalization of $136.00 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 4.56 and a beta of 0.46. The company’s 50 day simple moving average is $524.33 and its two-hundred day simple moving average is $478.58. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $578.73. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $6.73 earnings per share. Analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analyst Ratings Changes

LMT has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Barclays raised their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $553.43.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now 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 link. 0.17% of the stock is owned by insiders.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.