EP Wealth Advisors LLC Buys Shares of 25,455 Lockheed Martin Co. (NYSE:LMT)

EP Wealth Advisors LLC bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 25,455 shares of the aerospace company’s stock, valued at approximately $8,742,000.

A number of other institutional investors also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC raised its holdings in Lockheed Martin by 81,305.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock worth $927,896,000 after acquiring an additional 1,904,985 shares during the period. Envestnet Asset Management Inc. raised its holdings in Lockheed Martin by 197.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,495,056 shares of the aerospace company’s stock worth $253,332,000 after acquiring an additional 992,835 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,849,054 shares of the aerospace company’s stock worth $2,821,626,000 after acquiring an additional 382,510 shares during the period. Renaissance Technologies LLC raised its holdings in Lockheed Martin by 586.8% in the 1st quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company’s stock worth $163,097,000 after acquiring an additional 315,700 shares during the period. Finally, FMR LLC raised its holdings in Lockheed Martin by 3.4% in the 1st 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 during the period. Institutional investors and hedge funds own 74.26% of the company’s stock.

Insider Activity

In related news, Director John Donovan purchased 548 shares of Lockheed Martin stock in a transaction dated Wednesday, July 19th. The stock was bought at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the completion of the acquisition, the director now directly owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LMT. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 19th. StockNews.com began coverage on shares of Lockheed Martin in a report on Thursday, August 17th. They set a “buy” rating on the stock. Morgan Stanley restated an “equal weight” rating and set a $532.00 price objective on shares of Lockheed Martin in a report 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. Finally, Susquehanna dropped their price objective on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $499.43.

Lockheed Martin Stock Up 0.8 %

Shares of NYSE:LMT opened at $420.99 on Thursday. Lockheed Martin Co. has a 52 week low of $381.55 and a 52 week high of $508.10. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.16 and a current ratio of 1.36. The company has a market capitalization of $106.02 billion, a PE ratio of 15.39, a PEG ratio of 2.42 and a beta of 0.65. The company has a 50 day moving average price of $450.01 and a two-hundred day moving average price of $461.07.

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

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Thursday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is presently 43.88%.

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