Bridges Investment Management Inc. Acquires 25,610 Shares of Lockheed Martin Co. (NYSE:LMT)

Bridges Investment Management Inc. lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 190.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,070 shares of the aerospace company’s stock after buying an additional 25,610 shares during the period. Bridges Investment Management Inc.’s holdings in Lockheed Martin were worth $18,250,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in shares of Lockheed Martin by 39.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 451,100 shares of the aerospace company’s stock worth $210,709,000 after purchasing an additional 126,607 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Lockheed Martin by 46.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,124 shares of the aerospace company’s stock worth $525,000 after purchasing an additional 357 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Lockheed Martin by 7.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 43,438 shares of the aerospace company’s stock worth $20,290,000 after purchasing an additional 3,047 shares during the period. Wealth Advisors of Tampa Bay LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter worth about $2,107,000. Finally, Ieq Capital LLC boosted its stake in shares of Lockheed Martin by 12.4% during the 2nd quarter. Ieq Capital LLC now owns 13,396 shares of the aerospace company’s stock worth $6,257,000 after purchasing an additional 1,478 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LMT has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted 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. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Morgan Stanley boosted their price objective 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. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. 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 issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin 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 sale, the insider now directly owns 8,877 shares in the company, valued at $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 owned by insiders.

Lockheed Martin Trading Down 0.1 %

NYSE LMT opened at $565.18 on Friday. The firm has a market cap of $135.61 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 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. The company has a 50 day moving average price of $543.44 and a 200 day moving average price of $487.37.

Lockheed Martin (NYSE:LMT) last announced its earnings results 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 company had revenue of $18.12 billion during 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%. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $6.73 earnings per share. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company 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 $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.23%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

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.