Ridgewood Investments LLC Invests $35,000 in Lockheed Martin Co. (NYSE:LMT)

Ridgewood Investments LLC bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 76 shares of the aerospace company’s stock, valued at approximately $35,000.

Several other large investors also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in Lockheed Martin by 1,075.2% in the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after acquiring an additional 440,169 shares during the period. Franklin Resources Inc. increased its holdings in shares of Lockheed Martin by 14.9% during the fourth 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 during the period. Confluence Investment Management LLC acquired a new position in shares of Lockheed Martin during the first quarter valued at $151,402,000. Corient Private Wealth LLC lifted its holdings 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 purchasing an additional 274,680 shares during the period. Finally, Capital Research Global Investors grew its position in 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 buying an additional 218,506 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Down 0.5 %

NYSE:LMT traded down $2.67 during trading hours on Friday, hitting $564.18. 149,727 shares of the stock traded hands, compared to its average volume of 1,065,716. The firm has a 50 day moving average price of $510.22 and a 200 day moving average price of $471.88. The firm has a market cap of $135.37 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 4.40 and a beta of 0.46. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $569.09.

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

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analyst Weigh In

LMT has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased 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. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $541.85.

Lockheed Martin Company 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.