Ameriprise Financial Inc. Has $1.14 Billion Stake in Lockheed Martin Co. (NYSE:LMT)

Ameriprise Financial Inc. increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,419,579 shares of the aerospace company’s stock after acquiring an additional 85,913 shares during the quarter. Ameriprise Financial Inc. owned about 0.96% of Lockheed Martin worth $1,139,469,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Argent Trust Co boosted its stake in shares of Lockheed Martin by 1.6% in the first quarter. Argent Trust Co now owns 33,538 shares of the aerospace company’s stock valued at $15,854,000 after buying an additional 535 shares during the period. Merit Financial Group LLC increased its holdings in shares of Lockheed Martin by 8.8% during the first quarter. Merit Financial Group LLC now owns 7,358 shares of the aerospace company’s stock worth $3,478,000 after buying an additional 596 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in shares of Lockheed Martin during the 1st quarter valued at $6,709,000. Quadrant Capital Group LLC grew its position in Lockheed Martin by 14.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,858 shares of the aerospace company’s stock worth $904,000 after acquiring an additional 230 shares during the last quarter. Finally, Rebalance LLC acquired a new position in Lockheed Martin in the 4th quarter worth about $275,000. Institutional investors and hedge funds own 74.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup reduced their price target on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Susquehanna dropped their price target on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, July 19th. Royal Bank of Canada decreased their price objective on Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a report on Wednesday, July 19th. Wells Fargo & Company lifted their target price on Lockheed Martin from $433.00 to $440.00 in a report on Wednesday, July 19th. Finally, StockNews.com initiated coverage on Lockheed Martin in a research report on Thursday, August 17th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $499.43.

Insider Buying and Selling

In related news, Director John Donovan purchased 548 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was acquired at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the purchase, the director now owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Stock Performance

Shares of LMT opened at $417.86 on Wednesday. The stock has a 50-day moving average of $450.01 and a 200-day moving average of $461.07. Lockheed Martin Co. has a one year low of $381.55 and a one year high of $508.10. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.36 and a quick ratio of 1.16. The company has a market cap of $105.23 billion, a PE ratio of 15.28, a P/E/G ratio of 2.42 and a beta of 0.65.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.28. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the prior year, the firm earned $6.32 earnings per share. Lockheed Martin’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts predict that Lockheed Martin Co. will post 27.07 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, August 31st. Lockheed Martin’s payout ratio is presently 43.88%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.