Lockheed Martin Co. (NYSE:LMT) Shares Bought by IMS Capital Management

IMS Capital Management boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,344 shares of the aerospace company’s stock after buying an additional 171 shares during the quarter. IMS Capital Management’s holdings in Lockheed Martin were worth $1,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. International Assets Investment Management LLC grew its position in Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after buying an additional 1,349,409 shares during the period. Van ECK Associates Corp grew its position in shares of Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares during the period. Franklin Resources Inc. grew its position in shares of Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares during the period. Confluence Investment Management LLC acquired a new stake in shares of Lockheed Martin in the first quarter valued at about $151,402,000. Finally, Corient Private Wealth LLC grew its position in shares of Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after purchasing an additional 274,680 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on LMT shares. Bank of America upgraded shares of 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 report on Wednesday. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. UBS Group lifted their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Susquehanna boosted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $526.77.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Price Performance

NYSE LMT traded down $0.09 during trading hours on Friday, reaching $548.77. The company’s stock had a trading volume of 1,484,756 shares, compared to its average volume of 1,127,651. The stock has a market cap of $130.80 billion, a PE ratio of 20.08, a PEG ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $561.12. The company’s 50-day moving average is $476.89 and its two-hundred day moving average is $456.78. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) 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 company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the company earned $6.73 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts forecast that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.30%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

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.