Lockheed Martin Co. (NYSE:LMT) is Old West Investment Management LLC’s 7th Largest Position

Old West Investment Management LLC raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,990 shares of the aerospace company’s stock after acquiring an additional 986 shares during the quarter. Lockheed Martin makes up 5.1% of Old West Investment Management LLC’s portfolio, making the stock its 7th largest holding. Old West Investment Management LLC’s holdings in Lockheed Martin were worth $11,673,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of LMT. Wulff Hansen & CO. lifted its position in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after buying an additional 440,169 shares during the period. Franklin Resources Inc. lifted its position in shares of Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after buying an additional 336,588 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of Lockheed Martin during the 1st quarter valued at approximately $151,402,000. Finally, Corient Private Wealth LLC increased its holdings in Lockheed Martin by 91.8% in the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.5 %

Shares of LMT opened at $572.92 on Tuesday. The business’s 50 day simple moving average is $537.11 and its 200-day simple moving average is $485.28. 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. The stock has a market capitalization of $136.56 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the business earned $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Lockheed Martin Co. will post 26.65 earnings per share 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. Shareholders of record on Tuesday, September 3rd will be given 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 2.20%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred 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 transaction, 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 the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LMT. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Barclays upped their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

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.