Princeton Capital Management LLC Acquires Shares of 619 Lockheed Martin Co. (NYSE:LMT)

Princeton Capital Management LLC bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the second quarter, Holdings Channel.com reports. The firm bought 619 shares of the aerospace company’s stock, valued at approximately $289,000.

Several other hedge funds have also modified their holdings of the stock. First Pacific Financial bought a new stake in Lockheed Martin during the 1st quarter worth about $25,000. Altshuler Shaham Ltd bought a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $26,000. Wiser Advisor Group LLC lifted its holdings 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 during the period. Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin in the first quarter valued at approximately $30,000. Finally, Stephens Consulting LLC grew its holdings in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the period. 74.19% of the stock is owned by institutional investors.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Trading Up 0.2 %

Shares of NYSE:LMT opened at $568.10 on Tuesday. The firm has a market cap of $135.41 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $569.09. The company’s fifty day simple moving average is $516.17 and its 200 day simple moving average is $475.25. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

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 the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $6.73 EPS. As a group, research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared 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 of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.22%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Bank of America reissued a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the company from $540.00 to $600.00 in a research report on Friday, July 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $553.43.

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.