Avenir Corp raised its position in Lockheed Martin Co. (NYSE:LMT – Get Rating) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,483 shares of the aerospace company’s stock after acquiring an additional 580 shares during the quarter. Lockheed Martin accounts for about 4.4% of Avenir Corp’s investment portfolio, making the stock its 10th largest holding. Avenir Corp’s holdings in Lockheed Martin were worth $41,133,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. IMA Wealth Inc. boosted its stake in shares of Lockheed Martin by 41.8% during the 2nd quarter. IMA Wealth Inc. now owns 78 shares of the aerospace company’s stock valued at $34,000 after buying an additional 23 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $36,000. Cowa LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $39,000. Heritage Wealth Management LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter valued at approximately $42,000. Finally, Paragon Wealth Strategies LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 75.18% of the company’s stock.
Wall Street Analyst Weigh In
LMT has been the subject of several research analyst reports. The Goldman Sachs Group cut Lockheed Martin from a “neutral” rating to a “sell” rating and reduced their target price for the company from $388.00 to $332.00 in a research note on Friday, January 13th. Susquehanna raised their price objective on Lockheed Martin from $510.00 to $512.00 and gave the stock a “positive” rating in a research note on Wednesday, January 25th. Jefferies Financial Group raised their price objective on Lockheed Martin from $500.00 to $525.00 in a research note on Monday, December 5th. Credit Suisse Group upgraded Lockheed Martin from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $427.00 to $510.00 in a research note on Monday, February 6th. Finally, Vertical Research cut Lockheed Martin from a “buy” rating to a “hold” rating and set a $491.00 price objective on the stock. in a research note on Friday, January 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $490.43.
Insider Buying and Selling
In related news, EVP Timothy S. Cahill sold 2,534 shares of Lockheed Martin stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $479.44, for a total transaction of $1,214,900.96. Following the transaction, the executive vice president now directly owns 10,460 shares of the company’s stock, valued at $5,014,942.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Timothy S. Cahill sold 2,534 shares of Lockheed Martin stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $479.44, for a total transaction of $1,214,900.96. Following the transaction, the executive vice president now directly owns 10,460 shares of the company’s stock, valued at $5,014,942.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Donovan bought 556 shares of the stock in a transaction that occurred on Wednesday, January 25th. The shares were purchased at an average cost of $451.20 per share, for a total transaction of $250,867.20. Following the completion of the acquisition, the director now owns 2,324 shares of the company’s stock, valued at $1,048,588.80. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.
Lockheed Martin Stock Performance
Shares of LMT traded down $1.35 during trading hours on Monday, reaching $474.15. 472,581 shares of the company’s stock traded hands, compared to its average volume of 1,386,440. The firm has a market capitalization of $121.05 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.58 and a beta of 0.68. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.32 and a quick ratio of 1.13. Lockheed Martin Co. has a twelve month low of $373.67 and a twelve month high of $498.95. The business’s fifty day simple moving average is $467.81 and its two-hundred day simple moving average is $456.77.
Lockheed Martin (NYSE:LMT – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The aerospace company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.41 by $0.38. The company had revenue of $18.99 billion for the quarter, compared to analyst estimates of $18.25 billion. Lockheed Martin had a return on equity of 68.01% and a net margin of 8.69%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $7.47 earnings per share. Analysts predict that Lockheed Martin Co. will post 26.86 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, March 24th. Investors of record on Wednesday, March 1st will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Tuesday, February 28th. Lockheed Martin’s payout ratio is currently 55.27%.
About Lockheed Martin
Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.