Harbour Investments Inc. Buys 88 Shares of Lockheed Martin Co. (NYSE:LMT)

Harbour Investments Inc. raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,977 shares of the aerospace company’s stock after purchasing an additional 88 shares during the period. Harbour Investments Inc.’s holdings in Lockheed Martin were worth $2,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Franklin Resources Inc. increased its holdings 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. Dimensional Fund Advisors LP increased its stake in shares of Lockheed Martin by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock worth $470,536,000 after purchasing an additional 27,349 shares in the last quarter. Capital Research Global Investors raised its position in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Lockheed Martin by 1.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after buying an additional 9,136 shares in the last quarter. Finally, Corient Private Wealth LLC increased 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 buying an additional 274,680 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LMT shares. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. UBS Group boosted their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Susquehanna raised their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $541.85.

Lockheed Martin Trading Up 0.6 %

NYSE:LMT traded up $3.45 during midday trading on Wednesday, hitting $563.86. 340,115 shares of the company traded hands, compared to its average volume of 1,070,716. The firm has a market capitalization of $135.29 billion, a P/E ratio of 20.69, a P/E/G ratio of 4.40 and a beta of 0.46. The firm’s fifty day moving average is $506.14 and its 200-day moving average is $470.29. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $568.73. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

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 business had revenue of $18.12 billion for 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%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.73 earnings per share. On average, sell-side 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 paid a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.17% of the company’s stock.

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.