Garner Asset Management Corp Boosts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Garner Asset Management Corp grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 6.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,494 shares of the aerospace company’s stock after buying an additional 215 shares during the period. Garner Asset Management Corp’s holdings in Lockheed Martin were worth $1,632,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LMT. HTLF Bank grew its position in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after acquiring an additional 20 shares during the period. tru Independence LLC lifted its stake in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares in the last quarter. Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Goldstein Advisors LLC increased its position in Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after purchasing an additional 21 shares in the last quarter. Finally, Hudock Inc. raised its holdings in Lockheed Martin by 1.3% in the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after buying an additional 22 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $566.00 on Thursday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73. 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 stock has a market cap of $135.80 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The stock has a 50 day moving average of $541.35 and a 200-day moving average of $486.83.

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 firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $6.73 EPS. On average, analysts expect 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 $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on LMT. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. UBS Group boosted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock 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 increased their target price for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently 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.