Quest Investment Management LLC boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 35.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,310 shares of the aerospace company’s stock after purchasing an additional 11,523 shares during the period. Lockheed Martin comprises about 2.0% of Quest Investment Management LLC’s investment portfolio, making the stock its 23rd biggest position. Quest Investment Management LLC’s holdings in Lockheed Martin were worth $13,091,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Hyman Charles D lifted its position in shares of Lockheed Martin by 2.6% in the first quarter. Hyman Charles D now owns 30,400 shares of the aerospace company’s stock valued at $10,273,000 after acquiring an additional 770 shares in the last quarter. Wealthfront Inc. lifted its position in shares of Lockheed Martin by 1.9% in the first quarter. Wealthfront Inc. now owns 14,551 shares of the aerospace company’s stock valued at $4,917,000 after acquiring an additional 266 shares in the last quarter. HMS Capital Management LLC purchased a new position in shares of Lockheed Martin in the first quarter valued at about $216,000. BHK Investment Advisors LLC purchased a new position in shares of Lockheed Martin in the first quarter valued at about $338,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Lockheed Martin by 17.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,556,620 shares of the aerospace company’s stock valued at $526,029,000 after acquiring an additional 229,017 shares in the last quarter. Institutional investors own 78.23% of the company’s stock.
Shares of LMT stock opened at $313.12 on Friday. Lockheed Martin Co. has a 12-month low of $291.52 and a 12-month high of $363.00. The company has a current ratio of 1.19, a quick ratio of 0.97 and a debt-to-equity ratio of 28.14. The stock has a market capitalization of $89.91 billion, a PE ratio of 19.89, a PEG ratio of 2.50 and a beta of 0.71.
Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.92 by $0.39. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The firm had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.72 billion. During the same period in the previous year, the firm posted $3.23 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. analysts predict that Lockheed Martin Co. will post 17.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be issued a $2.00 dividend. The ex-dividend date is Friday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 2.55%. Lockheed Martin’s dividend payout ratio (DPR) is 60.02%.
In other news, SVP Maryanne Lavan sold 7,250 shares of Lockheed Martin stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total value of $2,346,390.00. Following the sale, the senior vice president now directly owns 9,869 shares of the company’s stock, valued at $3,194,003.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Marillyn A. Hewson sold 25,000 shares of Lockheed Martin stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $323.68, for a total value of $8,092,000.00. Following the completion of the sale, the chairman now directly owns 90,625 shares in the company, valued at $29,333,500. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $369.00 price objective on the stock in a research report on Friday, April 27th. ValuEngine downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. Cowen upgraded Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research report on Wednesday, July 25th. Stifel Nicolaus lowered their price objective on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Finally, Sanford C. Bernstein boosted their price objective on Lockheed Martin from $349.00 to $356.00 and gave the company a “market perform” rating in a research report on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Lockheed Martin presently has a consensus rating of “Buy” and a consensus price target of $370.38.
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 (MFC), Rotary and Mission Systems (RMS), and Space.
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