Thoroughbred Financial Services LLC Increases Position in Lockheed Martin Co. (NYSE:LMT)

Thoroughbred Financial Services LLC boosted its position in Lockheed Martin Co. (NYSE:LMT) by 19.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,358 shares of the aerospace company’s stock after acquiring an additional 859 shares during the period. Thoroughbred Financial Services LLC’s holdings in Lockheed Martin were worth $2,502,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LMT. Sachetta LLC increased its stake in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its holdings in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the 1st quarter worth about $30,000. Stephens Consulting LLC boosted its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Lockheed Martin in the second quarter valued at $35,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.3 %

Shares of LMT stock opened at $569.91 on Friday. The stock has a 50-day simple moving average of $534.89 and a 200 day simple moving average of $483.90. The stock has a market capitalization of $135.84 billion, a P/E ratio of 20.85, a P/E/G ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted 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. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the firm posted $6.73 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.21%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $500.00 to $600.00 in a research report on Monday, August 5th. UBS Group increased their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” 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 target for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Finally, Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. One 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 given a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.