Bank & Trust Co Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Bank & Trust Co 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 firm bought 175 shares of the aerospace company’s stock, valued at approximately $82,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LMT. First Pacific Financial purchased a new stake in shares of Lockheed Martin during the 1st quarter worth $25,000. Altshuler Shaham Ltd purchased a new stake in Lockheed Martin during the fourth quarter worth about $26,000. Wiser Advisor Group LLC boosted its holdings in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin during the first quarter worth about $30,000. Finally, Thompson Investment Management Inc. purchased a new position in Lockheed Martin in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LMT. Wells Fargo & Company boosted their price target 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 target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $500.00 to $600.00 in a research report on Monday. Citigroup boosted their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and raised their target price for the company from $465.00 to $635.00 in a report on Wednesday, July 31st. One investment 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. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $534.46.

Insiders Place Their Bets

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 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 in the company, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Trading Down 0.8 %

Shares of NYSE:LMT traded down $4.24 during trading on Tuesday, reaching $541.14. The stock had a trading volume of 1,033,139 shares, compared to its average volume of 1,095,953. 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 stock has a market cap of $128.99 billion, a P/E ratio of 20.01, a PEG ratio of 4.40 and a beta of 0.46. The business has a fifty day moving average price of $478.45 and a 200-day moving average price of $457.38. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $562.60.

Lockheed Martin (NYSE:LMT) last issued its quarterly 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 company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the firm posted $6.73 EPS. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given 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 yield of 2.33%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

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.