Marotta Asset Management purchased a new stake in Lockheed Martin Co. (NYSE:LMT – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 832 shares of the aerospace company’s stock, valued at approximately $383,000.
Several other large investors also recently made changes to their positions in LMT. Moneta Group Investment Advisors LLC increased its stake in shares of Lockheed Martin by 81,305.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock valued at $927,896,000 after purchasing an additional 1,904,985 shares during the period. Envestnet Asset Management Inc. grew its position 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 purchasing an additional 992,835 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 worth $2,821,626,000 after purchasing an additional 382,510 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Lockheed Martin by 586.8% during the 1st quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company’s stock valued at $163,097,000 after acquiring an additional 315,700 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Lockheed Martin by 3.4% during the 1st quarter. FMR LLC now owns 7,497,698 shares of the aerospace company’s stock valued at $3,544,387,000 after acquiring an additional 244,251 shares in the last quarter. Institutional investors and hedge funds own 74.26% of the company’s stock.
In related news, Director John Donovan purchased 548 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were acquired at an average cost of $457.07 per share, with a total value of $250,474.36. Following the completion of the purchase, the director now directly owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by insiders.
Lockheed Martin Price Performance
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.28. The firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $15.92 billion. Lockheed Martin had a net margin of 10.48% and a return on equity of 71.67%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.32 earnings per share. Equities research analysts expect that Lockheed Martin Co. will post 27.07 EPS for the current fiscal 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 paid a dividend of $3.00 per share. The ex-dividend date is Thursday, August 31st. This represents a $12.00 annualized dividend and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) is currently 43.88%.
Analysts Set New Price Targets
LMT has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a report on Wednesday, July 19th. Susquehanna cut their price objective on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $532.00 price objective on shares of Lockheed Martin in a research report on Wednesday, July 19th. StockNews.com started coverage on shares of Lockheed Martin in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company increased their price target on shares of Lockheed Martin from $433.00 to $440.00 in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus price target of $499.43.
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.
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