Lake Street Advisors Group LLC Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Lake Street Advisors Group LLC increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,754 shares of the aerospace company’s stock after acquiring an additional 39 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Lockheed Martin were worth $3,155,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Aveo Capital Partners LLC boosted its holdings in Lockheed Martin by 4.1% during the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after buying an additional 26 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in Lockheed Martin by 111.1% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock valued at $1,026,000 after purchasing an additional 1,209 shares in the last quarter. Wealthspire Advisors LLC lifted its holdings in Lockheed Martin by 16.9% during the fourth quarter. Wealthspire Advisors LLC now owns 2,846 shares of the aerospace company’s stock valued at $1,290,000 after purchasing an additional 411 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Lockheed Martin by 3.2% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 32,826 shares of the aerospace company’s stock valued at $14,878,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Rossmore Private Capital lifted its holdings in Lockheed Martin by 5.5% during the fourth quarter. Rossmore Private Capital now owns 10,896 shares of the aerospace company’s stock valued at $4,939,000 after purchasing an additional 567 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays raised 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. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $566.82 on Friday. The company has a 50-day moving average price of $524.33 and a 200 day moving average price of $478.58. The stock has a market cap of $136.00 billion, a P/E ratio of 20.74, a PEG ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $578.73. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

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, beating analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for 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%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.73 EPS. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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