FRG Family Wealth Advisors LLC Has $1.06 Million Position in Lockheed Martin Co. (NYSE:LMT)

FRG Family Wealth Advisors LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 32.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,277 shares of the aerospace company’s stock after acquiring an additional 552 shares during the period. FRG Family Wealth Advisors LLC’s holdings in Lockheed Martin were worth $1,064,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of LMT. Franklin Resources Inc. raised its stake in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after acquiring an additional 218,506 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Lockheed Martin by 1.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock worth $324,897,000 after acquiring an additional 9,136 shares in the last quarter. Corient Private Wealth LLC increased its stake in Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after acquiring an additional 274,680 shares during the last quarter. Finally, LSV Asset Management increased its position in Lockheed Martin by 3.3% during the 2nd quarter. LSV Asset Management now owns 505,427 shares of the aerospace company’s stock worth $236,085,000 after purchasing an additional 16,280 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Up 1.8 %

NYSE:LMT opened at $576.55 on Tuesday. The company has a market cap of $137.43 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a 50 day simple moving average of $526.54 and a two-hundred day simple moving average of $480.36. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73.

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 analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’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 earnings per share. Research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm 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 $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Insider Activity at Lockheed Martin

In other Lockheed Martin 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 directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Morgan Stanley increased their price target 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. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Barclays raised their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company 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.