LRI Investments LLC Purchases 550 Shares of Lockheed Martin Co. (NYSE:LMT)

LRI Investments LLC increased its position in Lockheed Martin Co. (NYSE:LMT) by 26.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,669 shares of the aerospace company’s stock after acquiring an additional 550 shares during the period. LRI Investments LLC’s holdings in Lockheed Martin were worth $1,246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Warther Private Wealth LLC grew its stake in shares of Lockheed Martin by 86.1% in the fourth quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after acquiring an additional 7,575 shares during the period. Morningstar Investment Services LLC raised its holdings in shares of Lockheed Martin by 99.6% during the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after purchasing an additional 73,774 shares during the last quarter. Cercano Management LLC bought a new position in Lockheed Martin during the fourth quarter valued at approximately $29,454,000. Finally, Brevan Howard Capital Management LP boosted its holdings in Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after purchasing an additional 5,736 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Price Performance

Shares of LMT stock traded down $2.02 on Friday, hitting $555.01. 870,355 shares of the stock traded hands, compared to its average volume of 1,078,855. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $564.22. The firm has a 50 day simple moving average of $504.16 and a two-hundred day simple moving average of $468.79. The firm has a market cap of $133.17 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating 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 analysts’ expectations of $17.05 billion. During the same period last year, the firm earned $6.73 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LMT. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Bank of America raised Lockheed Martin from a “neutral” rating to a “buy” rating and increased their target price for the company from $465.00 to $635.00 in a report on Wednesday, July 31st. Royal Bank of Canada upgraded 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 research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of 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 research report on Friday, July 26th. Finally, Barclays raised their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.