Ieq Capital LLC Purchases 1,478 Shares of Lockheed Martin Co. (NYSE:LMT)

Ieq Capital LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 12.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,396 shares of the aerospace company’s stock after buying an additional 1,478 shares during the quarter. Ieq Capital LLC’s holdings in Lockheed Martin were worth $6,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LMT. GAMMA Investing LLC increased its holdings in Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Morningstar Investment Services LLC increased its stake in shares of Lockheed Martin by 99.6% in the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after buying an additional 73,774 shares in the last quarter. Brevan Howard Capital Management LP raised its holdings in shares of Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after buying an additional 5,736 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after buying an additional 2,400 shares during the last quarter. Finally, American National Bank lifted its position in Lockheed Martin by 26.8% during the 1st quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock worth $16,638,000 after buying an additional 7,731 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $571.92 on Friday. The company has a market capitalization of $137.23 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 4.55 and a beta of 0.47. The firm’s 50 day simple moving average is $545.61 and its 200 day simple moving average is $488.34. 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 Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping 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 company 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 posted $6.73 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.20%. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s 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 directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several research reports. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, Susquehanna boosted their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

About Lockheed Martin

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.