Manning & Napier Advisors LLC Invests $30.04 Million in Lockheed Martin Co. (NYSE:LMT)

Manning & Napier Advisors LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 64,312 shares of the aerospace company’s stock, valued at approximately $30,040,000.

Other hedge funds have also recently bought and sold shares of the company. First Pacific Financial acquired a new position in Lockheed Martin during the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in Lockheed Martin in the fourth quarter valued at $26,000. Wiser Advisor Group LLC raised its stake in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin during the 1st quarter worth about $30,000. Finally, Thompson Investment Management Inc. acquired a new position in shares of Lockheed Martin during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT stock traded down $0.04 during midday trading on Friday, hitting $551.58. 819,144 shares of the stock were exchanged, compared to its average volume of 1,093,942. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market cap of $132.35 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $562.60. The stock’s 50-day moving average price is $483.83 and its 200-day moving average price is $459.25.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the firm earned $6.73 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts predict that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.28%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analysts Set New Price Targets

LMT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the company from $540.00 to $600.00 in a report on Friday, July 26th. UBS Group increased their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group reduced their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $500.00 to $600.00 in a report on Monday. Finally, Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $541.85.

Insider Buying and Selling

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was 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 in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

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