Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 24.8% during the 2nd quarter, Holdings Channel reports. The fund owned 3,986 shares of the aerospace company’s stock after acquiring an additional 791 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Lockheed Martin were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in LMT. Farmers & Merchants Investments Inc. raised its holdings in Lockheed Martin by 1.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,580 shares of the aerospace company’s stock worth $738,000 after purchasing an additional 29 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Lockheed Martin by 7.7% during the second quarter. Victory Capital Management Inc. now owns 277,427 shares of the aerospace company’s stock valued at $129,586,000 after buying an additional 19,728 shares in the last quarter. Altus Wealth Group LLC grew its holdings in Lockheed Martin by 6.8% during the second quarter. Altus Wealth Group LLC now owns 1,534 shares of the aerospace company’s stock worth $717,000 after acquiring an additional 97 shares during the period. MCF Advisors LLC grew its holdings in Lockheed Martin by 4.5% during the second quarter. MCF Advisors LLC now owns 1,185 shares of the aerospace company’s stock worth $553,000 after acquiring an additional 51 shares during the period. Finally, Sterling Investment Advisors Ltd. raised its position in Lockheed Martin by 4.5% in the second quarter. Sterling Investment Advisors Ltd. now owns 12,057 shares of the aerospace company’s stock worth $5,632,000 after acquiring an additional 524 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent research reports. UBS Group lifted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Finally, Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Down 0.0 %

Shares of LMT traded down $0.08 during trading hours on Friday, reaching $568.51. The company’s stock had a trading volume of 40,489 shares, compared to its average volume of 1,064,323. The company has a 50 day moving average of $522.34 and a two-hundred day moving average of $477.58. 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 cap of $136.41 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $578.73.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.73 EPS. As a group, research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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 given a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. Lockheed Martin’s payout ratio is 46.10%.

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.