Calamos Advisors LLC decreased its position in Lockheed Martin Corp. (NYSE:LMT) by 31.2% during the second quarter, Holdings Channel reports. The fund owned 321,735 shares of the company’s stock after selling 146,093 shares during the period. Calamos Advisors LLC’s holdings in Lockheed Martin Corp. were worth $79,845,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Artemis Investment Management LLP raised its stake in Lockheed Martin Corp. by 22.0% in the second quarter. Artemis Investment Management LLP now owns 1,917,270 shares of the company’s stock worth $476,046,000 after buying an additional 345,305 shares during the last quarter. Confluence Investment Management LLC raised its stake in Lockheed Martin Corp. by 5.6% in the second quarter. Confluence Investment Management LLC now owns 46,656 shares of the company’s stock worth $11,579,000 after buying an additional 2,467 shares during the last quarter. UMB Bank N A MO raised its stake in Lockheed Martin Corp. by 9.9% in the second quarter. UMB Bank N A MO now owns 66,298 shares of the company’s stock worth $16,453,000 after buying an additional 5,998 shares during the last quarter. Diversified Trust Co purchased a new stake in Lockheed Martin Corp. during the second quarter worth $201,000. Finally, Prospera Financial Services Inc raised its stake in Lockheed Martin Corp. by 2.1% in the second quarter. Prospera Financial Services Inc now owns 1,783 shares of the company’s stock worth $442,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.
Lockheed Martin Corp. (NYSE:LMT) traded down 1.39% on Thursday, reaching $242.34. The company’s stock had a trading volume of 1,134,120 shares. Lockheed Martin Corp. has a 52-week low of $200.47 and a 52-week high of $266.93. The firm has a market capitalization of $73.41 billion, a P/E ratio of 20.18 and a beta of 0.58. The firm has a 50-day moving average price of $246.43 and a 200 day moving average price of $240.88.
Lockheed Martin Corp. (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $3.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.93 by $0.39. Lockheed Martin Corp. had a return on equity of 119.66% and a net margin of 7.37%. The business earned $12.90 billion during the quarter, compared to the consensus estimate of $12.56 billion. During the same period in the previous year, the business earned $2.94 EPS. Equities analysts anticipate that Lockheed Martin Corp. will post $11.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend is Tuesday, November 29th. Lockheed Martin Corp.’s payout ratio is 56.51%.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Lockheed Martin Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Co. raised Lockheed Martin Corp. from a “market perform” rating to an “outperform” rating and upped their price target for the company from $199.01 to $277.50 in a report on Monday, September 19th. Citigroup Inc. reaffirmed a “buy” rating and issued a $284.00 price target (up from $239.00) on shares of Lockheed Martin Corp. in a report on Tuesday, September 6th. Jefferies Group reaffirmed a “neutral” rating on shares of Lockheed Martin Corp. in a report on Tuesday, August 30th. Finally, Vetr raised Lockheed Martin Corp. from a “buy” rating to a “strong-buy” rating and set a $275.75 price target for the company in a report on Monday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $257.32.
In other news, insider Sondra L. Barbour sold 66,460 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $255.74, for a total value of $16,996,480.40. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $7,979,088. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Orlando D. Carvalho sold 12,700 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $254.78, for a total value of $3,235,706.00. Following the completion of the sale, the insider now owns 29,120 shares of the company’s stock, valued at $7,419,193.60. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
Lockheed Martin Corp. Company Profile
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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