King Luther Capital Management Corp Has $3.54 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

King Luther Capital Management Corp cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,567 shares of the aerospace company’s stock after selling 94 shares during the quarter. King Luther Capital Management Corp’s holdings in Lockheed Martin were worth $3,535,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Weaver C. Barksdale & Associates Inc. boosted its position in Lockheed Martin by 18.7% during the 2nd quarter. Weaver C. Barksdale & Associates Inc. now owns 4,448 shares of the aerospace company’s stock worth $2,078,000 after acquiring an additional 702 shares during the period. Bridges Investment Management Inc. boosted its position in Lockheed Martin by 190.3% during the 2nd quarter. Bridges Investment Management Inc. now owns 39,070 shares of the aerospace company’s stock worth $18,250,000 after acquiring an additional 25,610 shares during the period. Canada Pension Plan Investment Board boosted its position in 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 acquiring an additional 126,607 shares during the period. Benjamin Edwards Inc. raised 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised 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 in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LMT shares. Bank of America reaffirmed a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Morgan Stanley raised their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, Melius raised 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. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Price Performance

NYSE:LMT opened at $571.92 on Friday. The stock has a market cap of $137.23 billion, a P/E ratio of 20.93, a PEG ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $578.73. The company has a fifty day moving average price of $545.61 and a 200 day moving average price of $488.74. 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 (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $6.73 EPS. Analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. 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%.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.