Weil Company Inc. Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Weil Company Inc. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 504 shares of the aerospace company’s stock after purchasing an additional 53 shares during the period. Weil Company Inc.’s holdings in Lockheed Martin were worth $235,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LMT. First Pacific Financial bought a new position in Lockheed Martin during the first quarter valued at approximately $25,000. Wiser Advisor Group LLC raised its stake in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Lockheed Martin during the 1st quarter valued at $30,000. Stephens Consulting LLC boosted its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Lockheed Martin during the second quarter valued at $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.3 %

Shares of NYSE:LMT opened at $566.82 on Friday. The company has a 50-day moving average price of $524.33 and a 200 day moving average price of $478.58. 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 Co. has a 12 month low of $393.77 and a 12 month high of $578.73. The company has a market cap of $136.00 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 4.56 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.73 EPS. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

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 2.22%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LMT shares. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday. Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Susquehanna raised their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Finally, Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.