Choreo LLC Buys 4,718 Shares of Lockheed Martin Co. (NYSE:LMT)

Choreo LLC lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 53.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,512 shares of the aerospace company’s stock after purchasing an additional 4,718 shares during the period. Choreo LLC’s holdings in Lockheed Martin were worth $6,303,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Aveo Capital Partners LLC increased its position in Lockheed Martin by 4.1% during the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after buying an additional 26 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in shares of Lockheed Martin by 111.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock worth $1,026,000 after acquiring an additional 1,209 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of Lockheed Martin by 4.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 4,695 shares of the aerospace company’s stock worth $2,128,000 after acquiring an additional 182 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Lockheed Martin by 7.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 38,753 shares of the aerospace company’s stock valued at $17,564,000 after acquiring an additional 2,751 shares during the period. Finally, Partnership Wealth Management LLC acquired a new stake in Lockheed Martin during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LMT. 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 report on Thursday, July 25th. Susquehanna increased their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Barclays boosted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Insider Activity

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

Lockheed Martin Stock Up 1.8 %

Shares of NYSE LMT opened at $576.55 on Tuesday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73. The stock’s fifty day moving average is $526.54 and its 200 day moving average is $480.36. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market capitalization of $137.43 billion, a P/E ratio of 21.10, a PEG ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating 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 firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period last year, the firm earned $6.73 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced 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. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

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.