Intech Investment Management LLC Has $26.72 Million Position in Lockheed Martin Co. (NYSE:LMT)

Intech Investment Management LLC lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 10.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 57,193 shares of the aerospace company’s stock after selling 7,015 shares during the period. Intech Investment Management LLC’s holdings in Lockheed Martin were worth $26,715,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in 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 acquiring an additional 20 shares during the period. Wiser Advisor Group LLC increased its stake in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the first quarter valued at about $30,000. Stephens Consulting LLC increased its stake in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in Lockheed Martin in the second quarter valued at about $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Susquehanna raised their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Finally, Barclays raised their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $565.18 on Friday. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73. The firm has a market cap of $135.61 billion, a P/E ratio of 20.68, a P/E/G ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $543.44 and a 200 day simple moving average of $487.37.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the firm earned $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.23%. Lockheed Martin’s payout ratio is presently 46.10%.

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.