Mainstay Capital Management LLC ADV Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

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Mainstay Capital Management LLC ADV increased its position in Lockheed Martin Co. (NYSE:LMT) by 25,999.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 223,150 shares of the aerospace company’s stock after purchasing an additional 222,295 shares during the quarter. Mainstay Capital Management LLC ADV owned 0.08% of Lockheed Martin worth $785,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. FTB Advisors Inc. boosted its stake in Lockheed Martin by 142.6% during the 2nd quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 211 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Lockheed Martin during the 1st quarter valued at $116,000. Fort L.P. bought a new position in Lockheed Martin during the 2nd quarter valued at $116,000. FNY Investment Advisers LLC bought a new position in Lockheed Martin during the 2nd quarter valued at $117,000. Finally, Quad Cities Investment Group LLC bought a new position in Lockheed Martin during the 2nd quarter valued at $131,000. Institutional investors and hedge funds own 77.84% of the company’s stock.

Shares of NYSE:LMT traded up $1.36 on Friday, reaching $327.62. 1,291,985 shares of the company’s stock were exchanged, compared to its average volume of 1,429,923. The stock has a market capitalization of $98.52 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.71. Lockheed Martin Co. has a fifty-two week low of $291.52 and a fifty-two week high of $363.00. The company has a debt-to-equity ratio of 28.14, a quick ratio of 0.97 and a current ratio of 1.19.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.92 by $0.39. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The company had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.72 billion. During the same period in the prior year, the company earned $3.23 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. Sell-side analysts expect that Lockheed Martin Co. will post 17.21 EPS for the current fiscal year.

Lockheed Martin announced that its board has authorized a share buyback program on Thursday, September 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, November 30th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio (DPR) is 60.02%.

In related news, Chairman Marillyn A. Hewson sold 25,000 shares of the stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $323.68, for a total value of $8,092,000.00. Following the sale, the chairman now owns 90,625 shares of the company’s stock, valued at approximately $29,333,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maryanne Lavan sold 7,250 shares of the stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total transaction of $2,346,390.00. Following the completion of the sale, the senior vice president now directly owns 9,869 shares in the company, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

A number of research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Lockheed Martin from $352.00 to $377.00 and gave the company an “overweight” rating in a research note on Wednesday, July 25th. Stifel Nicolaus reduced their price objective on shares of Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday. Cowen upgraded shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research note on Wednesday, July 25th. Finally, Berenberg Bank upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Lockheed Martin has an average rating of “Buy” and a consensus price target of $377.14.

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 (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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