Lockheed Martin Co. (NYSE:LMT) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,456 shares of the aerospace company’s stock after buying an additional 514 shares during the period. Raymond James Trust N.A.’s holdings in Lockheed Martin were worth $13,292,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. First Pacific Financial acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at about $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $30,000. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $38,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LMT. Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and raised their price target for the company from $465.00 to $635.00 in a research note on Wednesday, July 31st. Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Susquehanna increased their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Barclays increased their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $541.85.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction 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 completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.4 %

NYSE LMT traded down $2.02 on Friday, hitting $555.01. 870,355 shares of the stock were exchanged, compared to its average volume of 1,078,855. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $564.22. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market capitalization of $133.17 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 4.40 and a beta of 0.46. The company’s 50-day moving average price is $504.16 and its two-hundred day moving average price is $469.36.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share 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 for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the previous year, the company posted $6.73 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.27%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Lockheed Martin 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.