Welch Group LLC reduced its stake in shares of Lockheed Martin Corp. (NYSE:LMT) by 21.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,858 shares of the company’s stock after selling 18,360 shares during the period. Lockheed Martin Corp. accounts for approximately 3.4% of Welch Group LLC’s investment portfolio, making the stock its 4th largest position. Welch Group LLC’s holdings in Lockheed Martin Corp. were worth $16,592,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Lockheed Martin Corp. by 5.9% in the first quarter. Wellington Management Group LLP now owns 10,282,849 shares of the company’s stock valued at $2,277,650,000 after buying an additional 571,953 shares in the last quarter. Bank of Montreal Can bought a new position in Lockheed Martin Corp. during the second quarter worth about $106,461,000. Artemis Investment Management LLP increased its position 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 period. Renaissance Technologies LLC increased its position in Lockheed Martin Corp. by 2,490.8% in the first quarter. Renaissance Technologies LLC now owns 336,800 shares of the company’s stock worth $74,601,000 after buying an additional 323,800 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Lockheed Martin Corp. by 26,128.2% in the first quarter. 1832 Asset Management L.P. now owns 180,450 shares of the company’s stock worth $67,609,000 after buying an additional 179,762 shares during the period. Institutional investors own 83.79% of the company’s stock.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.21% on Wednesday, hitting $236.60. 1,172,065 shares of the stock were exchanged. Lockheed Martin Corp. has a 12 month low of $200.47 and a 12 month high of $266.93. The firm has a market cap of $71.67 billion, a P/E ratio of 19.70 and a beta of 0.59. The company has a 50-day moving average of $244.26 and a 200 day moving average of $241.66.
Lockheed Martin Corp. (NYSE:LMT) last issued its quarterly earnings data 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. The company had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $12.56 billion. Lockheed Martin Corp. had a net margin of 7.37% and a return on equity of 119.66%. During the same quarter in the prior year, the firm earned $2.94 earnings per share. Equities research analysts expect that Lockheed Martin Corp. will post $11.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be given a dividend of $1.82 per share. 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. This represents a $7.28 dividend on an annualized basis and a yield of 3.08%. Lockheed Martin Corp.’s dividend payout ratio is 56.51%.
LMT has been the subject of a number of analyst reports. Vetr downgraded Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price target for the company. in a research note on Monday, July 4th. Zacks Investment Research upgraded Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $279.00 price target for the company in a research note on Tuesday, July 5th. Drexel Hamilton reiterated a “buy” rating and set a $284.00 price target on shares of Lockheed Martin Corp. in a research note on Wednesday, July 20th. Argus lifted their price target on Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 20th. Finally, Credit Suisse Group AG reiterated a “neutral” rating and set a $255.00 price target (up previously from $225.00) on shares of Lockheed Martin Corp. in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $258.43.
In related news, insider Orlando D. Carvalho sold 12,700 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $254.78, for a total transaction of $3,235,706.00. Following the transaction, the insider now owns 29,120 shares in the company, valued at $7,419,193.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sondra L. Barbour sold 66,460 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total transaction of $16,996,480.40. Following 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. Corporate insiders own 0.42% of the company’s stock.
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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