Private Advisor Group LLC Has $22.91 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Private Advisor Group LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,045 shares of the aerospace company’s stock after acquiring an additional 1,640 shares during the quarter. Private Advisor Group LLC’s holdings in Lockheed Martin were worth $22,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Pacific Financial acquired a new position in shares of Lockheed Martin in the first quarter worth $25,000. Wiser Advisor Group LLC boosted 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 worth $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the first quarter worth $30,000. Stephens Consulting LLC boosted its holdings in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Lockheed Martin in the second quarter worth $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of recent research reports. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday. Morgan Stanley upped their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, UBS Group upped their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Down 0.3 %

Shares of LMT opened at $566.82 on Friday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market capitalization of $136.00 billion, a P/E ratio of 20.74, a P/E/G ratio of 4.56 and a beta of 0.46. The company has a 50-day simple moving average of $524.33 and a 200-day simple moving average of $478.58.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the business posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current 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 given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.