Key Financial Inc Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Key Financial Inc lifted its position in Lockheed Martin Co. (NYSE:LMT) by 6.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,778 shares of the aerospace company’s stock after purchasing an additional 100 shares during the quarter. Key Financial Inc’s holdings in Lockheed Martin were worth $831,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of LMT. Van ECK Associates Corp grew its stake in shares of Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after buying an additional 440,169 shares during the last quarter. Franklin Resources Inc. grew its position in Lockheed Martin by 14.9% during 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 during the last quarter. Confluence Investment Management LLC purchased a new position in Lockheed Martin in the 1st quarter worth approximately $151,402,000. Corient Private Wealth LLC lifted its position in 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 last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Lockheed Martin by 29.7% during the first 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. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Up 0.2 %

Shares of NYSE:LMT traded up $1.40 during midday trading on Friday, reaching $568.25. The company’s stock had a trading volume of 1,082,171 shares, compared to its average volume of 1,071,266. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $569.09. The firm has a market capitalization of $136.34 billion, a P/E ratio of 20.79, a PEG ratio of 4.40 and a beta of 0.46. The firm has a 50 day moving average of $512.23 and a 200-day moving average of $472.54. 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 announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The business 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%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.73 earnings per share. On average, research analysts anticipate that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid 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 2.22%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LMT shares. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Susquehanna raised their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Barclays boosted their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $541.85.

About Lockheed Martin

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.