49,351 Shares in Lockheed Martin Co. (NYSE:LMT) Purchased by Distillate Capital Partners LLC

Distillate Capital Partners LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 49,351 shares of the aerospace company’s stock, valued at approximately $23,052,000. Lockheed Martin makes up approximately 1.2% of Distillate Capital Partners LLC’s portfolio, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aveo Capital Partners LLC raised its holdings in Lockheed Martin by 4.1% during the 4th quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after purchasing an additional 26 shares during the last quarter. Gryphon Financial Partners LLC grew its position in shares of Lockheed Martin by 111.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock worth $1,026,000 after buying an additional 1,209 shares during the period. TrinityPoint Wealth LLC raised its stake in shares of Lockheed Martin by 9.5% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,948 shares of the aerospace company’s stock worth $1,789,000 after buying an additional 344 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in Lockheed Martin by 312.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 4,166 shares of the aerospace company’s stock valued at $1,888,000 after buying an additional 3,157 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Lockheed Martin by 38.9% in the fourth quarter. Hsbc Holdings PLC now owns 198,906 shares of the aerospace company’s stock valued at $89,951,000 after acquiring an additional 55,669 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. Barclays upped their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Susquehanna raised 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. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $553.43.

Insider Buying and Selling

In other Lockheed Martin 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 directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $580.59 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company’s fifty day simple moving average is $547.94 and its 200-day simple moving average is $490.19. The firm has a market cap of $139.31 billion, a PE ratio of 21.24, a P/E/G ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $581.75.

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 return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the previous year, the business earned $6.73 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

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.