Royal Fund Management LLC Buys 555 Shares of Lockheed Martin Co. (NYSE:LMT)

Royal Fund Management LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 21.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,089 shares of the aerospace company’s stock after purchasing an additional 555 shares during the quarter. Royal Fund Management LLC’s holdings in Lockheed Martin were worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Lee Financial Co lifted its position in Lockheed Martin by 367.6% in the 1st quarter. Lee Financial Co now owns 477 shares of the aerospace company’s stock valued at $210,000 after acquiring an additional 375 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Lockheed Martin by 240.0% during the 1st quarter. Vontobel Holding Ltd. now owns 4,124 shares of the aerospace company’s stock valued at $1,821,000 after buying an additional 2,911 shares during the period. Sei Investments Co. lifted its holdings in shares of Lockheed Martin by 56.8% during the 1st quarter. Sei Investments Co. now owns 23,153 shares of the aerospace company’s stock valued at $9,995,000 after buying an additional 8,389 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Lockheed Martin by 18.4% during the 1st quarter. NewEdge Advisors LLC now owns 28,807 shares of the aerospace company’s stock valued at $12,716,000 after buying an additional 4,472 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Lockheed Martin by 20.4% during the 1st quarter. Mackenzie Financial Corp now owns 107,366 shares of the aerospace company’s stock valued at $47,391,000 after buying an additional 18,201 shares during the period. 74.26% of the stock is owned by institutional investors.

Lockheed Martin Stock Up 1.3 %

Shares of NYSE:LMT opened at $429.69 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 1.87. Lockheed Martin Co. has a 12 month low of $381.55 and a 12 month high of $508.10. The company has a 50-day moving average price of $447.76 and a 200 day moving average price of $459.96. The company has a market cap of $108.21 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.41 and a beta of 0.65.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $6.73 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $6.32 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.07 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Thursday, August 31st. Lockheed Martin’s payout ratio is 43.88%.

Analyst Ratings Changes

LMT has been the topic of several research analyst reports. StockNews.com initiated coverage on Lockheed Martin in a report on Thursday, August 17th. They set a “buy” rating on the stock. Citigroup reduced their price objective on Lockheed Martin from $579.00 to $555.00 in a research note on Wednesday, July 19th. Morgan Stanley restated an “equal weight” rating and issued a $532.00 price objective on shares of Lockheed Martin in a research note on Wednesday, July 19th. Susquehanna reduced their price objective on Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company upgraded Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 price target for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and an average price target of $499.43.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, Director John Donovan purchased 548 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was purchased at an average price of $457.07 per share, with a total value of $250,474.36. Following the acquisition, the director now owns 3,378 shares in the company, valued at $1,543,982.46. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by insiders.

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.