Alaethes Wealth LLC Acquires 82 Shares of Lockheed Martin Co. (NYSE:LMT)

Alaethes Wealth LLC raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,387 shares of the aerospace company’s stock after purchasing an additional 82 shares during the quarter. Alaethes Wealth LLC’s holdings in Lockheed Martin were worth $1,582,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. TPG Advisors LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter worth about $224,000. Summit Trail Advisors LLC lifted its position in Lockheed Martin by 184.6% during the second quarter. Summit Trail Advisors LLC now owns 20,580 shares of the aerospace company’s stock worth $9,613,000 after acquiring an additional 13,348 shares during the last quarter. Capstone Triton Financial Group LLC boosted its holdings in shares of Lockheed Martin by 13.5% during the second quarter. Capstone Triton Financial Group LLC now owns 1,617 shares of the aerospace company’s stock worth $755,000 after acquiring an additional 192 shares during the period. Boston Research & Management Inc. grew its position in shares of Lockheed Martin by 0.4% in the second quarter. Boston Research & Management Inc. now owns 10,980 shares of the aerospace company’s stock valued at $5,128,000 after purchasing an additional 45 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Lockheed Martin by 60.2% in the second quarter. Sei Investments Co. now owns 71,344 shares of the aerospace company’s stock valued at $33,327,000 after purchasing an additional 26,797 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Insider Activity at Lockheed Martin

In other Lockheed Martin 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 sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

LMT has been the subject of several recent research reports. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. UBS Group boosted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Stock Up 1.2 %

Shares of LMT opened at $571.92 on Friday. The firm has a 50 day simple moving average of $545.61 and a two-hundred day simple moving average of $488.34. The company 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. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $578.73. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last announced 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 during the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the prior year, the company earned $6.73 EPS. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed 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. This represents a $12.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is 46.10%.

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.