Verity & Verity LLC boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,578 shares of the aerospace company’s stock after buying an additional 553 shares during the period. Lockheed Martin comprises 2.4% of Verity & Verity LLC’s investment portfolio, making the stock its 7th largest holding. Verity & Verity LLC’s holdings in Lockheed Martin were worth $11,376,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Clarus Wealth Advisors raised its holdings in Lockheed Martin by 21.7% during the 3rd quarter. Clarus Wealth Advisors now owns 13,713 shares of the aerospace company’s stock worth $5,349,000 after buying an additional 2,449 shares during the period. Northside Capital Management LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at about $245,000. Welch & Forbes LLC grew its stake in Lockheed Martin by 5.2% during the 3rd quarter. Welch & Forbes LLC now owns 4,441 shares of the aerospace company’s stock valued at $1,732,000 after acquiring an additional 219 shares in the last quarter. Gyroscope Capital Management Group LLC grew its stake in Lockheed Martin by 13.6% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 1,257 shares of the aerospace company’s stock valued at $478,000 after acquiring an additional 150 shares in the last quarter. Finally, Burns J W & Co. Inc. NY grew its stake in Lockheed Martin by 2.1% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 1,744 shares of the aerospace company’s stock valued at $680,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.
Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on Lockheed Martin from $376.00 to $381.00 and gave the company an “equal weight” rating in a research note on Thursday. Barclays reaffirmed a “hold” rating and set a $410.00 target price on shares of Lockheed Martin in a research note on Wednesday. UBS Group lifted their target price on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Credit Suisse Group lifted their target price on Lockheed Martin from $379.00 to $401.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $372.64.
In related news, Chairman Marillyn A. Hewson sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total value of $7,198,230.00. Following the completion of the sale, the chairman now owns 46,534 shares of the company’s stock, valued at approximately $17,177,560.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James D. Taiclet, Jr. purchased 1,354 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $376.32 per share, with a total value of $509,537.28. Following the purchase, the director now owns 1,354 shares in the company, valued at approximately $509,537.28. The disclosure for this purchase can be found here. In the last three months, insiders sold 22,503 shares of company stock valued at $8,292,527. 0.35% of the stock is currently owned by company insiders.
Shares of NYSE LMT traded down $5.41 during trading hours on Friday, hitting $381.47. The stock had a trading volume of 1,327,640 shares, compared to its average volume of 1,179,973. The company has a market capitalization of $107.91 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.53 and a beta of 0.96. The firm’s 50-day moving average price is $385.55 and its two-hundred day moving average price is $354.26. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.26. The business had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.31 EPS. As a group, analysts expect that Lockheed Martin Co. will post 21.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $2.40 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $9.60 annualized dividend and a dividend yield of 2.52%. Lockheed Martin’s payout ratio is presently 49.30%.
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 (MFC), Rotary and Mission Systems (RMS), and Space.
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