Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,610 shares of the aerospace company’s stock, valued at approximately $1,676,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LMT. Krane Funds Advisors LLC bought a new position in Lockheed Martin during the second quarter valued at about $26,000. Paragon Capital Management LLC raised its holdings in Lockheed Martin by 406.7% during the second quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock valued at $28,000 after buying an additional 61 shares in the last quarter. MRA Associates USA LLC acquired a new stake in shares of Lockheed Martin in the second quarter valued at about $38,000. Bremer Bank National Association acquired a new stake in shares of Lockheed Martin in the first quarter valued at about $41,000. Finally, Trustcore Financial Services LLC grew its position in shares of Lockheed Martin by 245.5% in the second quarter. Trustcore Financial Services LLC now owns 114 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 78.33% of the company’s stock.
LMT stock traded down $5.85 during trading on Tuesday, reaching $384.21. 1,101,633 shares of the stock were exchanged, compared to its average volume of 1,029,809. Lockheed Martin Co. has a twelve month low of $241.18 and a twelve month high of $399.96. The company has a market capitalization of $110.58 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 2.57 and a beta of 0.94. The stock has a 50 day simple moving average of $384.05 and a 200-day simple moving average of $349.93. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $2.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 dividend on an annualized basis and a yield of 2.50%. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.
Several brokerages have recently issued reports on LMT. Morgan Stanley raised their price target on Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Credit Suisse Group raised their price target on Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. UBS Group raised their price target on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price target on Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $367.86.
In related news, SVP Maryanne Lavan sold 1,003 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total transaction of $366,596.50. Following the sale, the senior vice president now directly owns 1,478 shares of the company’s stock, valued at $540,209. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James D. Taiclet, Jr. bought 1,354 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $376.32 per share, for a total transaction of $509,537.28. Following the completion of the transaction, the director now owns 1,354 shares of the company’s stock, valued at $509,537.28. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 22,503 shares of company stock worth $8,292,527. 0.35% of the stock is owned by company insiders.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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