Transcend Capital Advisors LLC Purchases 59 Shares of Lockheed Martin Co. (NYSE:LMT)

Transcend Capital Advisors LLC boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,571 shares of the aerospace company’s stock after purchasing an additional 59 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Lockheed Martin were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LMT. Van ECK Associates Corp raised its holdings in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after acquiring an additional 440,169 shares during the period. Franklin Resources Inc. raised its position in Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth approximately $151,402,000. Corient Private Wealth LLC lifted its stake in Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Trading Down 0.5 %

Shares of NYSE LMT traded down $2.49 during midday trading on Monday, reaching $546.28. 724,253 shares of the stock were exchanged, compared to its average volume of 1,089,947. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The business has a 50-day simple moving average of $476.89 and a two-hundred day simple moving average of $456.78. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $561.29. The company has a market capitalization of $130.21 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $6.73 EPS. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LMT. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Citigroup lifted their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Susquehanna increased their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $534.46.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.