Evergreen Capital Management LLC Raises Holdings in Lockheed Martin Co. (NYSE:LMT)

Evergreen Capital Management LLC raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,873 shares of the aerospace company’s stock after purchasing an additional 483 shares during the period. Evergreen Capital Management LLC’s holdings in Lockheed Martin were worth $6,013,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in shares of Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after buying an additional 73,774 shares during the last quarter. Brevan Howard Capital Management LP boosted its stake in shares of Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after buying an additional 5,736 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after buying an additional 2,400 shares during the last quarter. Finally, American National Bank boosted its stake in shares of Lockheed Martin by 26.8% in the 1st quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock worth $16,638,000 after buying an additional 7,731 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

NYSE:LMT 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 business’s 50-day simple moving average is $547.94 and its two-hundred day simple moving average is $490.19. The stock 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 52 week low of $393.77 and a 52 week high of $581.75.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results 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 business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $6.73 earnings per share. As a group, analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given 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 2.17%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LMT. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Wells Fargo & Company lifted their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. UBS Group lifted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the company from $540.00 to $600.00 in a research report on Friday, July 26th. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. One equities 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 MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by company insiders.

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.