Mather Group LLC. Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

Mather Group LLC. raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 65.8% during the second quarter, Holdings Channel reports. The firm owned 1,774 shares of the aerospace company’s stock after buying an additional 704 shares during the quarter. Mather Group LLC.’s holdings in Lockheed Martin were worth $807,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Pacific Financial purchased a new stake in shares of Lockheed Martin in the 1st quarter worth about $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Lockheed Martin in the 4th quarter worth about $26,000. Wiser Advisor Group LLC grew its position 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 worth $29,000 after buying an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the 1st quarter worth about $30,000. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Lockheed Martin in the 1st quarter worth about $38,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. Citigroup upped their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays upped their price target 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. Finally, Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $500.00 to $600.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $534.46.

Insider Transactions at Lockheed Martin

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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

LMT traded up $6.64 during midday trading on Wednesday, hitting $548.20. 447,467 shares of the company traded hands, compared to its average volume of 1,091,446. 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 firm has a market capitalization of $130.67 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The company’s 50-day moving average is $480.10 and its 200 day moving average is $457.97. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $562.60.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping 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 firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the business earned $6.73 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Announces Dividend

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

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.