ProShare Advisors LLC Has $15.75 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

ProShare Advisors LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,727 shares of the aerospace company’s stock after purchasing an additional 1,921 shares during the quarter. ProShare Advisors LLC’s holdings in Lockheed Martin were worth $15,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC lifted its stake in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $30,000. Stephens Consulting LLC grew its stake in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in Lockheed Martin in the second quarter worth approximately $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of 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 report on Friday, July 26th. Morgan Stanley upped their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. UBS Group raised their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Trading Up 1.5 %

NYSE:LMT opened at $580.59 on Tuesday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $581.75. The firm has a 50-day moving average price of $547.94 and a two-hundred day moving average price of $490.19. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market cap of $139.31 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued 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. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period last year, the business posted $6.73 earnings per share. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by corporate 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.