Johnson Investment Counsel Inc. Purchases 247 Shares of Lockheed Martin Co. (NYSE:LMT)

Johnson Investment Counsel Inc. grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,272 shares of the aerospace company’s stock after acquiring an additional 247 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Lockheed Martin were worth $10,403,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. HTLF Bank grew its stake in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after buying an additional 20 shares during the last quarter. tru Independence LLC grew its position in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after acquiring an additional 20 shares during the last quarter. Sachetta LLC increased its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Goldstein Advisors LLC raised its position in Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after purchasing an additional 21 shares during the last quarter. Finally, Hudock Inc. grew its holdings in shares of Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Down 0.9 %

LMT stock opened at $566.96 on Thursday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73. The stock’s 50 day simple moving average is $530.69 and its 200 day simple moving average is $481.95. The company has a market cap of $135.14 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

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

Lockheed Martin Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Wall Street Analyst Weigh In

LMT has been the topic of several recent research reports. Susquehanna lifted their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays boosted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’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 owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

About Lockheed Martin

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.