State of Tennessee Treasury Department grew its position in Lockheed Martin Co. (NYSE:LMT – Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 156,730 shares of the aerospace company’s stock after buying an additional 6,571 shares during the period. State of Tennessee Treasury Department owned 0.06% of Lockheed Martin worth $74,091,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Moneta Group Investment Advisors LLC increased its position in shares of Lockheed Martin by 81,305.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock worth $927,896,000 after purchasing an additional 1,904,985 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Lockheed Martin by 197.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,495,056 shares of the aerospace company’s stock worth $253,332,000 after buying an additional 992,835 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,849,054 shares of the aerospace company’s stock valued at $2,821,626,000 after buying an additional 382,510 shares in the last quarter. Renaissance Technologies LLC raised its stake in Lockheed Martin by 586.8% in the first quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company’s stock valued at $163,097,000 after buying an additional 315,700 shares during the last quarter. Finally, FMR LLC boosted its holdings in Lockheed Martin by 3.4% in the first quarter. FMR LLC now owns 7,497,698 shares of the aerospace company’s stock worth $3,544,387,000 after acquiring an additional 244,251 shares in the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.
Insider Activity at Lockheed Martin
In related news, Director John Donovan bought 548 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was bought at an average cost of $457.07 per share, for a total transaction of $250,474.36. Following the acquisition, the director now directly owns 3,378 shares in the company, valued at $1,543,982.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.
Lockheed Martin Price Performance
Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.28. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. The business had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $15.92 billion. During the same quarter last year, the business posted $6.32 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts expect that Lockheed Martin Co. will post 27.07 EPS for the current fiscal year.
Lockheed Martin Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be issued a $3.00 dividend. The ex-dividend date is Thursday, August 31st. This represents a $12.00 dividend on an annualized basis and a yield of 2.81%. Lockheed Martin’s payout ratio is 43.88%.
Analyst Ratings Changes
A number of analysts recently commented on LMT shares. Wells Fargo & Company lifted their target price on shares of Lockheed Martin from $433.00 to $440.00 in a research note on Wednesday, July 19th. Citigroup dropped their price objective on shares of Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. StockNews.com assumed coverage on Lockheed Martin in a research report on Thursday, August 17th. They set a “buy” rating for the company. Royal Bank of Canada cut their price objective on Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 19th. Finally, Susquehanna decreased their target price on Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $499.43.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
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