Pettyjohn Wood & White Inc. Makes New $301,000 Investment in Lockheed Martin Co. (NYSE:LMT)

Pettyjohn Wood & White Inc. bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 827 shares of the aerospace company’s stock, valued at approximately $301,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Lockheed Martin by 25.3% in the 4th quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after purchasing an additional 691,751 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Lockheed Martin by 38,923.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock valued at $134,122,000 after purchasing an additional 1,337,784 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Lockheed Martin by 1.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,403 shares of the aerospace company’s stock valued at $310,787,000 after purchasing an additional 18,777 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lockheed Martin by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 680,087 shares of the aerospace company’s stock valued at $178,074,000 after purchasing an additional 37,194 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Lockheed Martin by 3.7% in the 1st quarter. Eagle Asset Management Inc. now owns 428,151 shares of the aerospace company’s stock valued at $128,513,000 after purchasing an additional 15,359 shares during the last quarter. 78.55% of the stock is owned by hedge funds and other institutional investors.

In other news, Director James D. Taiclet, Jr. acquired 1,354 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $376.32 per share, for a total transaction of $509,537.28. Following the acquisition, the director now directly owns 1,354 shares of the company’s stock, valued at approximately $509,537.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maryanne Lavan sold 1,003 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the transaction, the senior vice president now owns 1,478 shares in the company, valued at approximately $540,209. The disclosure for this sale can be found here. Insiders have sold a total of 22,503 shares of company stock worth $8,292,527 in the last 90 days. Company insiders own 0.35% of the company’s stock.

Shares of NYSE:LMT traded up $3.54 during midday trading on Friday, hitting $377.00. 816,400 shares of the company’s stock traded hands, compared to its average volume of 1,203,082. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. The company has a market cap of $104.19 billion, a PE ratio of 21.12, a P/E/G ratio of 2.46 and a beta of 0.97. The firm’s fifty day moving average price is $366.95 and its two-hundred day moving average price is $332.26. Lockheed Martin Co. has a twelve month low of $241.18 and a twelve month high of $381.51.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.26. The business had revenue of $14.42 billion for the quarter, compared to analyst estimates of $14.17 billion. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.31 EPS. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 21.2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $2.20 per share. The ex-dividend date is Friday, August 30th. This represents a $8.80 annualized dividend and a dividend yield of 2.33%. Lockheed Martin’s payout ratio is 49.30%.

A number of equities analysts have weighed in on LMT shares. Cowen reiterated a “buy” rating and issued a $360.00 price target on shares of Lockheed Martin in a report on Wednesday, April 24th. Morgan Stanley lifted their price target on shares of Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a report on Wednesday. Bank of America reiterated a “buy” rating and issued a $400.00 price target (up previously from $390.00) on shares of Lockheed Martin in a report on Wednesday, April 24th. Barclays lifted their price target on shares of Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Finally, Credit Suisse Group lifted their target price on shares of Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $367.86.

About Lockheed Martin

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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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