Lockheed Martin Co. (NYSE:LMT) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 184.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,580 shares of the aerospace company’s stock after purchasing an additional 13,348 shares during the quarter. Summit Trail Advisors LLC’s holdings in Lockheed Martin were worth $9,613,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wulff Hansen & CO. increased its stake in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the period. Van ECK Associates Corp grew its holdings in Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after acquiring an additional 440,169 shares during the period. Confluence Investment Management LLC purchased a new position in Lockheed Martin during the first quarter valued at approximately $151,402,000. Capital Research Global Investors lifted its holdings in Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after acquiring an additional 218,506 shares during the period. Finally, National Bank of Canada FI boosted its position in Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LMT. Wells Fargo & Company increased their price target 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. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Finally, Morgan Stanley raised their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. One 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Trading Up 1.2 %

Shares of LMT opened at $571.92 on Friday. The firm’s fifty day moving average is $545.61 and its two-hundred day moving average is $488.34. The stock has a market cap of $137.23 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. 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 Co. has a 52-week low of $393.77 and a 52-week high of $578.73.

Lockheed Martin (NYSE:LMT) last released 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 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 quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.73 EPS. Research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced 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. This represents a $12.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Insiders Place Their Bets

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

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.