Choreo LLC Buys 4,718 Shares of Lockheed Martin Co. (NYSE:LMT)

Choreo LLC increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 53.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,512 shares of the aerospace company’s stock after purchasing an additional 4,718 shares during the quarter. Choreo LLC’s holdings in Lockheed Martin were worth $6,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after acquiring an additional 440,169 shares during the last quarter. Franklin Resources Inc. raised its holdings in Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after purchasing an additional 336,588 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Lockheed Martin during the 1st quarter valued at about $151,402,000. Corient Private Wealth LLC boosted its stake in shares of Lockheed Martin by 91.8% in the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after purchasing an additional 274,680 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $576.55 on Tuesday. The firm has a market cap of $137.43 billion, a P/E ratio of 21.10, a PEG ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm’s 50 day moving average price is $526.54 and its two-hundred day moving average price is $480.36.

Lockheed Martin (NYSE:LMT) last posted 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. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.73 EPS. On average, analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued 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 dividend yield of 2.19%. Lockheed Martin’s payout ratio is presently 46.10%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’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 completion of 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 legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LMT. Wells Fargo & Company increased their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays lifted 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. Susquehanna increased their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.