Lockheed Martin Co. (NYSE:LMT) Shares Bought by LifePro Asset Management

LifePro Asset Management grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 29.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 885 shares of the aerospace company’s stock after purchasing an additional 201 shares during the period. LifePro Asset Management’s holdings in Lockheed Martin were worth $407,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Worth Asset Management LLC lifted its stake in Lockheed Martin by 20.1% during the second quarter. Worth Asset Management LLC now owns 209 shares of the aerospace company’s stock worth $96,000 after purchasing an additional 35 shares in the last quarter. Selective Wealth Management Inc. purchased a new stake in shares of Lockheed Martin during the second quarter worth $312,000. Ferguson Wellman Capital Management Inc. increased its position in shares of Lockheed Martin by 0.9% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 122,374 shares of the aerospace company’s stock worth $56,339,000 after acquiring an additional 1,059 shares during the period. Northwest Investment Counselors LLC increased its position in shares of Lockheed Martin by 1.9% during the second quarter. Northwest Investment Counselors LLC now owns 7,137 shares of the aerospace company’s stock worth $3,286,000 after acquiring an additional 134 shares during the period. Finally, Capital Investment Advisors LLC increased its position in shares of Lockheed Martin by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 89,138 shares of the aerospace company’s stock worth $41,037,000 after acquiring an additional 2,550 shares during the period. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of LMT traded up $3.15 during mid-day trading on Monday, reaching $427.20. 109,370 shares of the company’s stock were exchanged, compared to its average volume of 1,196,139. The company has a quick ratio of 1.16, a current ratio of 1.36 and a debt-to-equity ratio of 1.87. The company has a 50-day simple moving average of $447.76 and a two-hundred day simple moving average of $459.96. Lockheed Martin Co. has a 52-week low of $381.55 and a 52-week high of $508.10. The company has a market cap of $107.58 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 2.40 and a beta of 0.65.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.28. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $15.92 billion. Lockheed Martin had a net margin of 10.48% and a return on equity of 71.67%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the company posted $6.32 EPS. On average, sell-side analysts predict that Lockheed Martin Co. will post 27.07 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $12.00 annualized dividend and a dividend yield of 2.81%. Lockheed Martin’s dividend payout ratio is presently 43.88%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Susquehanna cut their price objective on Lockheed Martin from $575.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, July 19th. Morgan Stanley reissued an “equal weight” rating and issued a $532.00 target price on shares of Lockheed Martin in a report on Wednesday, July 19th. StockNews.com started coverage on Lockheed Martin in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Citigroup dropped their target price on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Finally, Royal Bank of Canada dropped their target price on Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $499.43.

Insider Activity

In related news, Director John Donovan acquired 548 shares of the stock in a transaction dated Wednesday, July 19th. The stock was bought at an average cost of $457.07 per share, with a total value of $250,474.36. Following the purchase, the director now directly owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The transaction 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 Company 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, Rotary and Mission Systems, and Space.