1832 Asset Management L.P. Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

1832 Asset Management L.P. increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 25.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,970 shares of the aerospace company’s stock after buying an additional 2,024 shares during the period. 1832 Asset Management L.P.’s holdings in Lockheed Martin were worth $4,535,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Pacific Financial purchased a new stake in shares of Lockheed Martin during the first quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $26,000. Activest Wealth Management increased its stake in shares of Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after buying an additional 60 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the first quarter worth approximately $30,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of Lockheed Martin by 1,925.0% during the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after buying an additional 77 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT traded up $3.40 during midday trading on Friday, reaching $524.80. 1,141,310 shares of the company traded hands, compared to its average volume of 1,065,686. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $528.64. The firm has a market capitalization of $125.09 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 4.86 and a beta of 0.46. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.11. The company has a fifty day moving average price of $469.59 and a 200 day moving average price of $453.90.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.73 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.43 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analysts Set New Price Targets

Several equities analysts have commented on LMT shares. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the company from $480.00 to $560.00 in a research note on Wednesday. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday. The Goldman Sachs Group dropped their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. Finally, Citigroup increased their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $518.91.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

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.