Stevens Capital Management LP Acquires 1,601 Shares of Lockheed Martin Co. (NYSE:LMT)

Stevens Capital Management LP grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 79.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,618 shares of the aerospace company’s stock after purchasing an additional 1,601 shares during the period. Stevens Capital Management LP’s holdings in Lockheed Martin were worth $1,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LMT. Clean Yield Group bought a new stake in shares of Lockheed Martin in the second quarter valued at approximately $25,000. Sierra Capital LLC bought a new position in shares of Lockheed Martin in the 1st quarter worth $36,000. Selective Wealth Management Inc. bought a new position in shares of Lockheed Martin in the 2nd quarter worth $38,000. Banque Cantonale Vaudoise increased its holdings in shares of Lockheed Martin by 90.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 105 shares of the aerospace company’s stock worth $39,000 after buying an additional 50 shares during the last quarter. Finally, Paragon Wealth Strategies LLC bought a new position in shares of Lockheed Martin in the 2nd quarter worth $42,000. 74.51% of the stock is currently owned by institutional investors.

LMT has been the topic of a number of research analyst reports. Credit Suisse Group reissued a “neutral” rating and issued a $370.20 price target (down previously from $394.00) on shares of Lockheed Martin in a report on Tuesday, July 27th. The Goldman Sachs Group cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and set a $402.00 price objective for the company. in a research note on Thursday. Jefferies Financial Group reissued a “neutral” rating on shares of Lockheed Martin in a research report on Friday, September 10th. Finally, Wells Fargo & Company increased their price target on shares of Lockheed Martin from $384.00 to $385.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $401.03.

Shares of Lockheed Martin stock traded up $6.48 during trading on Monday, hitting $356.00. The company’s stock had a trading volume of 29,939 shares, compared to its average volume of 1,475,278. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.15 and a current ratio of 1.36. The company has a fifty day simple moving average of $358.81 and a two-hundred day simple moving average of $371.96. The company has a market capitalization of $98.58 billion, a PE ratio of 13.70, a P/E/G ratio of 3.23 and a beta of 0.98. Lockheed Martin Co. has a 52 week low of $319.81 and a 52 week high of $396.99.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Sunday, July 25th. The aerospace company reported $6.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.53 by ($0.01). The business had revenue of $17.03 billion during the quarter, compared to the consensus estimate of $16.93 billion. Lockheed Martin had a return on equity of 123.35% and a net margin of 10.69%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.79 earnings per share. As a group, analysts predict that Lockheed Martin Co. will post 23.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 27th. Shareholders of record on Wednesday, December 1st will be paid a dividend of $2.80 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.60. This represents a $11.20 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is currently 41.87%.

Lockheed Martin announced that its board has authorized a share repurchase plan on Thursday, September 23rd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the aerospace company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Lockheed Martin Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business 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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