Symphony Financial Ltd. Co. Raises Position in Lockheed Martin Co. (NYSE:LMT)

Symphony Financial Ltd. Co. grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 21.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,366 shares of the aerospace company’s stock after purchasing an additional 420 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Lockheed Martin were worth $1,082,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Covenant Asset Management LLC raised its position in shares of Lockheed Martin by 3.2% in the 2nd quarter. Covenant Asset Management LLC now owns 2,889 shares of the aerospace company’s stock worth $1,330,000 after buying an additional 89 shares during the period. Beacon Capital Management LLC raised its position in shares of Lockheed Martin by 21.1% in the 2nd quarter. Beacon Capital Management LLC now owns 224 shares of the aerospace company’s stock worth $103,000 after buying an additional 39 shares during the period. American National Bank raised its position in shares of Lockheed Martin by 20.0% in the 2nd quarter. American National Bank now owns 28,354 shares of the aerospace company’s stock worth $13,054,000 after buying an additional 4,723 shares during the period. Royal Fund Management LLC raised its position in shares of Lockheed Martin by 21.9% in the 2nd quarter. Royal Fund Management LLC now owns 3,089 shares of the aerospace company’s stock worth $1,422,000 after buying an additional 555 shares during the period. Finally, Darwin Wealth Management LLC raised its position in shares of Lockheed Martin by 7.7% in the 2nd quarter. Darwin Wealth Management LLC now owns 1,262 shares of the aerospace company’s stock worth $588,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Lockheed Martin Stock Down 0.6 %

Shares of LMT stock traded down $2.48 during trading hours on Tuesday, hitting $427.38. 246,822 shares of the company were exchanged, compared to its average volume of 1,195,585. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.16 and a current ratio of 1.36. Lockheed Martin Co. has a one year low of $381.55 and a one year high of $508.10. The business’s 50-day simple moving average is $447.76 and its two-hundred day simple moving average is $459.96. The stock has a market capitalization of $107.63 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.41 and a beta of 0.65.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $6.73 EPS for the quarter, topping 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 business had revenue of $16.69 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter last year, the company posted $6.32 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 27.07 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $12.00 dividend on an annualized basis and a yield of 2.81%. Lockheed Martin’s dividend payout ratio is currently 43.88%.

Insiders Place Their Bets

In other Lockheed Martin news, Director John Donovan bought 548 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were purchased at an average price of $457.07 per share, with a total value 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 approximately $1,543,982.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LMT shares. 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 report on Monday. Citigroup lowered their price target on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Morgan Stanley reiterated 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 for the company in a report on Wednesday, July 19th. Finally, StockNews.com started coverage on Lockheed Martin in a report on Thursday, August 17th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $499.43.

About Lockheed Martin

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.