Isthmus Partners LLC Acquires New Stake in Lockheed Martin Co. (NYSE:LMT)

Isthmus Partners LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,111 shares of the aerospace company’s stock, valued at approximately $122,000.

Other hedge funds have also recently made changes to their positions in the company. HTLF Bank boosted its position in 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 purchasing an additional 20 shares during the period. Goldstein Advisors LLC boosted its holdings in Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after buying an additional 21 shares during the period. Hudock Inc. grew its stake in Lockheed Martin by 1.3% in the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after buying an additional 22 shares in the last quarter. Lester Murray Antman dba SimplyRich raised its holdings in Lockheed Martin by 0.8% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 2,765 shares of the aerospace company’s stock valued at $1,291,000 after acquiring an additional 22 shares during the period. Finally, Stephens Consulting LLC lifted its position in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Trading Down 0.3 %

Lockheed Martin stock traded down $1.96 during mid-day trading on Friday, reaching $566.63. 976,688 shares of the company traded hands, compared to its average volume of 1,069,765. The firm’s 50 day moving average price is $524.33 and its 200 day moving average price is $478.58. The firm has a market capitalization of $135.96 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 4.56 and a beta of 0.46. 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 Co. has a 52-week low of $393.77 and a 52-week high of $578.73.

Lockheed Martin (NYSE:LMT) last released its quarterly 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. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.73 earnings per share. On average, analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.22%. Lockheed Martin’s payout ratio is 46.10%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of analyst reports. Susquehanna boosted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. UBS Group upped their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the company from $540.00 to $600.00 in a report on Friday, July 26th. Finally, Wells Fargo & Company increased their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.