Tidal Investments LLC Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Tidal Investments LLC boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 68.2% in the first quarter, Holdings Channel reports. The fund owned 15,696 shares of the aerospace company’s stock after buying an additional 6,362 shares during the quarter. Tidal Investments LLC’s holdings in Lockheed Martin were worth $7,142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC grew its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares during the last quarter. Redwood Investment Management LLC lifted its position in Lockheed Martin by 31.6% in the first quarter. Redwood Investment Management LLC now owns 4,846 shares of the aerospace company’s stock worth $2,204,000 after purchasing an additional 1,165 shares during the period. California State Teachers Retirement System raised its position in Lockheed Martin by 0.6% in the first quarter. California State Teachers Retirement System now owns 364,262 shares of the aerospace company’s stock worth $165,692,000 after acquiring an additional 2,295 shares in the last quarter. Innova Wealth Partners bought a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $227,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Lockheed Martin by 9.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 17,313 shares of the aerospace company’s stock worth $7,875,000 after buying an additional 1,453 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.4 %

LMT stock traded up $1.99 during midday trading on Thursday, reaching $543.91. 264,060 shares of the company’s stock traded hands, compared to its average volume of 1,082,624. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $547.00. The company has a market cap of $129.65 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 4.57 and a beta of 0.46. The firm’s fifty day moving average price is $473.63 and its 200-day moving average price is $455.54. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the business earned $6.73 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.32%. Lockheed Martin’s payout ratio is presently 46.10%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LMT. Barclays boosted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group reduced their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Bank of America raised Lockheed Martin from a “neutral” rating to a “buy” rating and lifted their target price for the company from $465.00 to $635.00 in a research note on Wednesday. Susquehanna raised their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $540.00 to $600.00 in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $526.77.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’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 transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

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.