Lockheed Martin Co. (NYSE:LMT) is Strategy Asset Managers LLC’s 5th Largest Position

Strategy Asset Managers LLC increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 10.9% in the second quarter, HoldingsChannel reports. The firm owned 27,942 shares of the aerospace company’s stock after buying an additional 2,744 shares during the quarter. Lockheed Martin makes up approximately 2.5% of Strategy Asset Managers LLC’s holdings, making the stock its 5th biggest holding. Strategy Asset Managers LLC’s holdings in Lockheed Martin were worth $12,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. HTLF Bank grew its position in shares of Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the period. Goldstein Advisors LLC increased its position in Lockheed Martin by 1.2% during the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after purchasing an additional 21 shares during the last quarter. Hudock Inc. raised its stake in Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after purchasing an additional 22 shares during the period. Lester Murray Antman dba SimplyRich boosted its holdings in shares of Lockheed Martin by 0.8% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 2,765 shares of the aerospace company’s stock valued at $1,291,000 after purchasing an additional 22 shares during the last quarter. Finally, Stephens Consulting LLC raised its position in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LMT. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Wells Fargo & Company increased their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. UBS Group raised their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Price Performance

LMT traded up $9.02 during trading on Wednesday, reaching $576.24. The stock had a trading volume of 189,183 shares, compared to its average volume of 1,067,233. The stock has a 50 day moving average of $518.16 and a two-hundred day moving average of $476.26. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $138.26 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $578.73.

Lockheed Martin (NYSE:LMT) last announced 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. 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 during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter last year, the business posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 Securities & Exchange Commission, which is available through the SEC website. Corporate 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.