Monarch Capital Management Inc. Buys 73 Shares of Lockheed Martin Co. (NYSE:LMT)

Monarch Capital Management Inc. boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,169 shares of the aerospace company’s stock after buying an additional 73 shares during the period. Monarch Capital Management Inc.’s holdings in Lockheed Martin were worth $1,013,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its stake in Lockheed Martin by 206.1% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 2,170 shares of the aerospace company’s stock worth $1,014,000 after purchasing an additional 1,461 shares in the last quarter. LRI Investments LLC lifted its stake in shares of Lockheed Martin by 26.0% in the second quarter. LRI Investments LLC now owns 2,669 shares of the aerospace company’s stock worth $1,246,000 after buying an additional 550 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Lockheed Martin during the second quarter valued at approximately $70,000. Tower Bridge Advisors grew its holdings in shares of Lockheed Martin by 4.7% during the second quarter. Tower Bridge Advisors now owns 6,697 shares of the aerospace company’s stock valued at $3,128,000 after buying an additional 300 shares during the last quarter. Finally, West Oak Capital LLC increased its holdings in shares of Lockheed Martin by 7.1% in the 2nd quarter. West Oak Capital LLC now owns 5,038 shares of the aerospace company’s stock worth $2,353,000 after purchasing an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT traded down $2.02 during mid-day trading on Friday, hitting $555.01. 870,355 shares of the stock were exchanged, compared to its average volume of 1,078,855. The firm has a 50-day moving average of $504.16 and a two-hundred day moving average of $469.09. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $564.22. 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 market cap of $133.17 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company 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 firm earned $6.73 earnings per share. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.27%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of research reports. Bank of America upgraded Lockheed Martin from a “neutral” rating to a “buy” rating and raised their price target for the stock from $465.00 to $635.00 in a research note on Wednesday, July 31st. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $500.00 to $600.00 in a report on Monday, August 5th. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Susquehanna boosted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $541.85.

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.