Van Hulzen Asset Management LLC Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

Van Hulzen Asset Management LLC raised its position in Lockheed Martin Co. (NYSE:LMT) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,470 shares of the aerospace company’s stock after purchasing an additional 257 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Lockheed Martin were worth $12,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Van ECK Associates Corp raised its position in Lockheed Martin by 1,075.2% in the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the period. Franklin Resources Inc. grew its stake in Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after acquiring an additional 336,588 shares in the last quarter. Confluence Investment Management LLC bought a new position in Lockheed Martin in the 1st quarter worth about $151,402,000. Corient Private Wealth LLC grew its stake in Lockheed Martin by 91.8% in the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after acquiring an additional 218,506 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on LMT. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Morgan Stanley upped their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. 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 research note 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 research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Price Performance

Shares of LMT opened at $576.55 on Tuesday. The company has a market cap of $137.43 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a 50 day moving average of $526.54 and a two-hundred day moving average of $480.36.

Lockheed Martin (NYSE:LMT) last announced its earnings results 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. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $6.73 earnings per share. As a group, analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.19%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on 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 filing with the SEC, which is available at this link. Corporate 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.