Gerber Kawasaki Wealth & Investment Management boosted its stake in Lockheed Martin Corp. (NYSE:LMT) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 30,423 shares of the company’s stock after buying an additional 27 shares during the period. Lockheed Martin Corp. accounts for approximately 4.8% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 5th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Lockheed Martin Corp. were worth $7,550,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Americafirst Capital Management LLC bought a new position in Lockheed Martin Corp. during the second quarter valued at approximately $103,000. Signaturefd LLC raised its position in Lockheed Martin Corp. by 14.9% in the second quarter. Signaturefd LLC now owns 546 shares of the company’s stock valued at $135,000 after buying an additional 71 shares during the last quarter. Quadrant Capital Group LLC raised its position in Lockheed Martin Corp. by 24.4% in the second quarter. Quadrant Capital Group LLC now owns 684 shares of the company’s stock valued at $161,000 after buying an additional 134 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Lockheed Martin Corp. by 4.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 774 shares of the company’s stock valued at $192,000 after buying an additional 33 shares during the last quarter. Finally, Zions Bancorporation raised its position in Lockheed Martin Corp. by 102.3% in the first quarter. Zions Bancorporation now owns 809 shares of the company’s stock valued at $182,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded down 0.18% during trading on Friday, hitting $232.57. The company’s stock had a trading volume of 1,081,038 shares. The stock has a market cap of $70.45 billion, a PE ratio of 19.37 and a beta of 0.59. Lockheed Martin Corp. has a one year low of $200.47 and a one year high of $266.93. The company has a 50-day moving average price of $239.84 and a 200-day moving average price of $241.96.
Lockheed Martin Corp. (NYSE:LMT) last posted its earnings results on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, topping 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 had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.56 billion. During the same quarter in the previous year, the firm earned $2.94 earnings per share. Equities analysts predict that Lockheed Martin Corp. will post $11.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, November 29th. This is a boost from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. Lockheed Martin Corp.’s payout ratio is 56.51%.
Several research firms have recently commented on LMT. Drexel Hamilton reissued a “buy” rating and issued a $284.00 price target on shares of Lockheed Martin Corp. in a research report on Wednesday, July 20th. Zacks Investment Research raised Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $279.00 target price on the stock in a research report on Tuesday, July 5th. Jefferies Group reaffirmed a “hold” rating on shares of Lockheed Martin Corp. in a research report on Wednesday, August 3rd. Argus upped their target price on Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, July 20th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and set a $255.00 target price (up from $225.00) on shares of Lockheed Martin Corp. in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $259.77.
In related news, insider Orlando D. Carvalho sold 12,700 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $254.78, for a total value of $3,235,706.00. Following the transaction, the insider now owns 29,120 shares in the company, valued at approximately $7,419,193.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sondra L. Barbour sold 66,460 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total value of $16,996,480.40. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at approximately $7,979,088. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
About Lockheed Martin Corp.
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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