Abbrea Capital LLC Boosts Holdings in Lockheed Martin Co. (NYSE:LMT)

Abbrea Capital LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,601 shares of the aerospace company’s stock after acquiring an additional 67 shares during the quarter. Abbrea Capital LLC’s holdings in Lockheed Martin were worth $748,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LMT. Sachetta LLC raised its stake in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its stake in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the first quarter worth approximately $30,000. Stephens Consulting LLC raised its stake 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. Finally, Ridgewood Investments LLC bought a new position in shares of Lockheed Martin in the second quarter worth approximately $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $568.27 on Friday. The company has a market capitalization of $135.45 billion, a PE ratio of 20.79, a PEG ratio of 4.55 and a beta of 0.47. The business has a fifty day moving average price of $532.73 and a 200-day moving average price of $482.55. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $578.73. 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 (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the previous year, the company earned $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. 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 dividend payout ratio is 46.10%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Finally, Wells Fargo & Company lifted their price target 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

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.