EverSource Wealth Advisors LLC Purchases 1,895 Shares of Lockheed Martin Co. (NYSE:LMT)

EverSource Wealth Advisors LLC grew its position in Lockheed Martin Co. (NYSE:LMT) by 168.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,020 shares of the aerospace company’s stock after purchasing an additional 1,895 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Lockheed Martin were worth $1,411,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of LMT. Wulff Hansen & CO. grew its holdings in Lockheed Martin by 56,626.7% during the 2nd 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 boosted its holdings in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after buying an additional 440,169 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $151,402,000. Capital Research Global Investors increased its stake in shares of Lockheed Martin by 29.7% in the 1st 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 in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after acquiring an additional 218,466 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LMT has been the subject of a number of research reports. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Barclays boosted their target price on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the stock from $480.00 to $560.00 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 report on Friday, August 9th. Finally, Susquehanna increased their target price on 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 issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $571.92 on Monday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73. The company’s 50 day moving average price is $545.61 and its two-hundred day moving average price is $489.13. The stock has a market cap of $137.23 billion, a P/E ratio of 20.93, a P/E/G 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 (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the previous year, the firm earned $6.73 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

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

Insider Buying and Selling at Lockheed Martin

In other 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 transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Company 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.