Morse Asset Management Inc Acquires 422 Shares of Lockheed Martin Co. (NYSE:LMT)

Morse Asset Management Inc boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 16.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,027 shares of the aerospace company’s stock after buying an additional 422 shares during the quarter. Morse Asset Management Inc’s holdings in Lockheed Martin were worth $1,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Bank of Montreal Can increased its position in Lockheed Martin by 0.9% during the 2nd quarter. Bank of Montreal Can now owns 643,554 shares of the aerospace company’s stock worth $303,281,000 after purchasing an additional 5,987 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Lockheed Martin by 3.9% during the second quarter. Evergreen Capital Management LLC now owns 12,873 shares of the aerospace company’s stock worth $6,013,000 after buying an additional 483 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Lockheed Martin by 110.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,847 shares of the aerospace company’s stock valued at $3,665,000 after acquiring an additional 4,114 shares during the last quarter. Edge Capital Group LLC boosted its holdings in shares of Lockheed Martin by 16.2% during the 2nd quarter. Edge Capital Group LLC now owns 12,469 shares of the aerospace company’s stock valued at $5,824,000 after acquiring an additional 1,739 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Lockheed Martin by 168.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,020 shares of the aerospace company’s stock worth $1,411,000 after acquiring an additional 1,895 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 1.2 %

NYSE LMT opened at $571.92 on Monday. The stock has a market capitalization 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. The business has a 50 day simple moving average of $545.61 and a 200 day simple moving average of $489.13. 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 Co. has a one year low of $393.77 and a one year high of $578.73.

Lockheed Martin (NYSE:LMT) last announced 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 company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter last year, the firm posted $6.73 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Insider Activity

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 completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LMT shares. Royal Bank of Canada raised 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 research note on Monday, August 5th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. One 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 stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

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.