Spectrum Financial Alliance Ltd LLC Raises Holdings in Lockheed Martin Co. (NYSE:LMT)

Spectrum Financial Alliance Ltd LLC grew its position in Lockheed Martin Co. (NYSE:LMT) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,334 shares of the aerospace company’s stock after purchasing an additional 3,244 shares during the period. Lockheed Martin comprises approximately 10.1% of Spectrum Financial Alliance Ltd LLC’s holdings, making the stock its 5th biggest holding. Spectrum Financial Alliance Ltd LLC’s holdings in Lockheed Martin were worth $28,182,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Central Bank & Trust Co. boosted its holdings in Lockheed Martin by 12.2% during the second quarter. Central Bank & Trust Co. now owns 4,097 shares of the aerospace company’s stock worth $1,914,000 after purchasing an additional 446 shares during the last quarter. Nvest Financial LLC boosted its stake in shares of Lockheed Martin by 18.7% in the 2nd quarter. Nvest Financial LLC now owns 2,408 shares of the aerospace company’s stock valued at $1,125,000 after purchasing an additional 380 shares in the last quarter. MONECO Advisors LLC boosted its stake in shares of Lockheed Martin by 9.5% in the 2nd quarter. MONECO Advisors LLC now owns 2,157 shares of the aerospace company’s stock valued at $1,008,000 after purchasing an additional 187 shares in the last quarter. RBA Wealth Management LLC boosted its position in Lockheed Martin by 1.3% during the 2nd quarter. RBA Wealth Management LLC now owns 10,947 shares of the aerospace company’s stock worth $5,113,000 after buying an additional 142 shares during the period. Finally, Western Wealth Management LLC boosted its position in Lockheed Martin by 22.6% during the 2nd quarter. Western Wealth Management LLC now owns 3,754 shares of the aerospace company’s stock worth $1,754,000 after buying an additional 691 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LMT. Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective 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. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Bank of America raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $465.00 to $635.00 in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $541.85.

Lockheed Martin Price Performance

NYSE:LMT traded down $0.16 during trading hours on Monday, reaching $559.97. The stock had a trading volume of 266,829 shares, compared to its average volume of 1,081,200. The stock has a market capitalization of $134.36 billion, a PE ratio of 20.58, a PEG ratio of 4.40 and a beta of 0.46. 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 company has a 50 day moving average price of $494.65 and a two-hundred day moving average price of $464.80. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $564.22.

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

Lockheed Martin Dividend Announcement

The company 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 $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

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.