Weaver C. Barksdale & Associates Inc. Raises Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Weaver C. Barksdale & Associates Inc. raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 18.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,448 shares of the aerospace company’s stock after buying an additional 702 shares during the quarter. Lockheed Martin comprises 2.0% of Weaver C. Barksdale & Associates Inc.’s investment portfolio, making the stock its 16th largest position. Weaver C. Barksdale & Associates Inc.’s holdings in Lockheed Martin were worth $2,078,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LMT. Wulff Hansen & CO. boosted its position in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after acquiring an additional 440,169 shares during the last quarter. Confluence Investment Management LLC purchased a new position in shares of Lockheed Martin during the first quarter valued at about $151,402,000. Capital Research Global Investors raised its holdings in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after acquiring an additional 218,506 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after purchasing an additional 218,466 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.1 %

Shares of NYSE:LMT opened at $565.18 on Friday. The company has a market cap of $135.61 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 4.55 and a beta of 0.47. The firm’s 50-day simple moving average is $543.44 and its 200-day simple moving average is $487.37. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73. 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 released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the firm earned $6.73 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.23%. Lockheed Martin’s payout ratio is 46.10%.

Analyst Ratings Changes

Several research firms have recently issued reports on LMT. Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $500.00 to $600.00 in a report on Monday, August 5th. Wells Fargo & Company upped their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.