Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Holderness Investments Co.

Holderness Investments Co. raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 10.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,972 shares of the aerospace company’s stock after buying an additional 375 shares during the quarter. Holderness Investments Co.’s holdings in Lockheed Martin were worth $1,855,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of Lockheed Martin by 6.0% during the 2nd quarter. ProShare Advisors LLC now owns 33,727 shares of the aerospace company’s stock valued at $15,754,000 after acquiring an additional 1,921 shares in the last quarter. Merriman Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the second quarter worth $223,000. Alaethes Wealth LLC lifted its position in shares of Lockheed Martin by 2.5% in the 2nd quarter. Alaethes Wealth LLC now owns 3,387 shares of the aerospace company’s stock worth $1,582,000 after buying an additional 82 shares during the last quarter. TPG Advisors LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at about $224,000. Finally, Summit Trail Advisors LLC grew its position in shares of Lockheed Martin by 184.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 20,580 shares of the aerospace company’s stock valued at $9,613,000 after buying an additional 13,348 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their target price 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. Morgan Stanley boosted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $500.00 to $600.00 in a report on Monday, August 5th. Finally, Susquehanna increased 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. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Stock Performance

LMT opened at $571.92 on Friday. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $578.73. The company has a market capitalization of $137.23 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The business has a 50 day moving average price of $545.61 and a two-hundred 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 announced its quarterly earnings data 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. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a dividend yield of 2.20%. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction 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 owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.