Verition Fund Management LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 380.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,681 shares of the aerospace company’s stock after acquiring an additional 17,960 shares during the quarter. Verition Fund Management LLC’s holdings in Lockheed Martin were worth $6,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Lockheed Martin by 0.7% during the 2nd quarter. BlackRock Inc. now owns 17,248,707 shares of the aerospace company’s stock worth $5,095,787,000 after purchasing an additional 117,082 shares during the period. Morgan Stanley raised its stake in shares of Lockheed Martin by 4.4% during the 2nd quarter. Morgan Stanley now owns 3,481,336 shares of the aerospace company’s stock worth $1,028,490,000 after purchasing an additional 147,745 shares during the period. Northern Trust Corp raised its stake in shares of Lockheed Martin by 0.7% during the 1st quarter. Northern Trust Corp now owns 3,308,122 shares of the aerospace company’s stock worth $1,117,914,000 after purchasing an additional 24,273 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Lockheed Martin by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,552,936 shares of the aerospace company’s stock worth $754,213,000 after purchasing an additional 292,851 shares during the period. Finally, FMR LLC raised its stake in shares of Lockheed Martin by 1.4% during the 2nd quarter. FMR LLC now owns 2,337,478 shares of the aerospace company’s stock worth $690,562,000 after purchasing an additional 32,879 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lockheed Martin stock opened at $335.80 on Monday. Lockheed Martin Co. has a 52-week low of $291.52 and a 52-week high of $363.00. The stock has a market capitalization of $92.63 billion, a P/E ratio of 25.19, a PEG ratio of 2.57 and a beta of 0.72. The company has a current ratio of 1.19, a quick ratio of 0.97 and a debt-to-equity ratio of 28.14.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business 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 business posted $3.23 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. sell-side analysts forecast that Lockheed Martin Co. will post 17.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, August 31st. Lockheed Martin’s payout ratio is presently 60.02%.
LMT has been the topic of a number of recent analyst reports. Credit Suisse Group lowered their target price on Lockheed Martin from $380.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 22nd. Zacks Investment Research cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Morgan Stanley lifted their target price on Lockheed Martin from $352.00 to $377.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 25th. Cowen upgraded Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 target price on the stock in a research note on Wednesday, July 25th. Finally, UBS Group initiated coverage on Lockheed Martin in a research note on Wednesday, August 15th. They set a “buy” rating and a $400.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Lockheed Martin currently has an average rating of “Buy” and a consensus target price of $372.02.
In other Lockheed Martin news, 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 transaction of $8,092,000.00. Following the completion of the transaction, the chairman now owns 90,625 shares of the company’s stock, valued at approximately $29,333,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maryanne Lavan sold 7,250 shares of Lockheed Martin stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total value of $2,346,390.00. Following the transaction, the senior vice president now directly owns 9,869 shares of the company’s stock, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. 0.35% of the stock is owned by 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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