Bath Savings Trust Co grew its position in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,700 shares of the aerospace company’s stock after buying an additional 562 shares during the period. Bath Savings Trust Co’s holdings in Lockheed Martin were worth $2,164,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Grey Fox Wealth Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter worth about $27,000. Edmond DE Rothschild Holding S.A. lifted its holdings in Lockheed Martin by 100.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 30 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in Lockheed Martin during the 4th quarter worth about $31,000. Cascade Investment Advisors Inc. purchased a new stake in Lockheed Martin during the 1st quarter worth about $35,000. Finally, KB Financial Partners LLC purchased a new stake in Lockheed Martin during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 74.26% of the company’s stock.
Analyst Ratings Changes
LMT has been the topic of a number of recent research reports. Wells Fargo & Company raised Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 price objective on the stock in a report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $532.00 price target on shares of Lockheed Martin in a report on Wednesday, July 19th. Susquehanna lowered their price target on Lockheed Martin from $575.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, July 19th. Citigroup lowered their price target on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Finally, StockNews.com assumed coverage on Lockheed Martin in a report on Thursday, August 17th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $499.43.
Lockheed Martin Trading Up 1.7 %
Lockheed Martin stock traded up $7.15 during trading hours on Monday, reaching $431.20. The company had a trading volume of 473,949 shares, compared to its average volume of 1,198,120. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.36 and a quick ratio of 1.16. Lockheed Martin Co. has a 12-month low of $381.55 and a 12-month high of $508.10. The firm has a market cap of $108.59 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.42 and a beta of 0.65. The company has a 50-day moving average price of $447.76 and a 200 day moving average price of $459.96.
Lockheed Martin (NYSE:LMT – Get Free Report) last posted its earnings results on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share (EPS) 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 firm had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same period in the previous year, the firm earned $6.32 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Lockheed Martin Co. will post 27.07 earnings per share for the current year.
Lockheed Martin Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $12.00 annualized dividend and a dividend yield of 2.78%. Lockheed Martin’s dividend payout ratio is presently 43.88%.
Insiders Place Their Bets
In related news, Director John Donovan bought 548 shares of the company’s stock in a transaction on 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 acquisition, the director now owns 3,378 shares of the company’s stock, valued at approximately $1,543,982.46. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.
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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