Wagner Bowman Management Corp Has $440,000 Stake in Lockheed Martin Corp. (LMT)
Wagner Bowman Management Corp increased its stake in Lockheed Martin Corp. (NYSE:LMT) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,774 shares of the company’s stock after buying an additional 46 shares during the period. Wagner Bowman Management Corp’s holdings in Lockheed Martin Corp. were worth $440,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in LMT. AMP Capital Investors Ltd raised its stake in Lockheed Martin Corp. by 4.3% in the first quarter. AMP Capital Investors Ltd now owns 150,260 shares of the company’s stock valued at $33,500,000 after buying an additional 6,258 shares during the last quarter. LPL Financial LLC raised its stake in Lockheed Martin Corp. by 11.9% in the first quarter. LPL Financial LLC now owns 373,404 shares of the company’s stock valued at $84,247,000 after buying an additional 39,736 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Lockheed Martin Corp. by 1.1% in the second quarter. State of Alaska Department of Revenue now owns 20,920 shares of the company’s stock valued at $5,191,000 after buying an additional 230 shares during the last quarter. Renaissance Technologies LLC raised its stake 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 valued at $74,601,000 after buying an additional 323,800 shares during the last quarter. Finally, Parasol Investment Management LLC raised its stake in Lockheed Martin Corp. by 9.5% in the second quarter. Parasol Investment Management LLC now owns 1,152 shares of the company’s stock valued at $286,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 81.20% of the company’s stock.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded up 1.15% during midday trading on Thursday, hitting $246.62. The company’s stock had a trading volume of 1,173,013 shares. The firm has a market cap of $74.70 billion, a P/E ratio of 20.54 and a beta of 0.58. The stock’s 50 day moving average is $248.57 and its 200-day moving average is $239.85. Lockheed Martin Corp. has a 52-week low of $199.01 and a 52-week high of $266.93.
Lockheed Martin Corp. (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.39. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $2.94 EPS. 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 issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. Lockheed Martin Corp.’s payout ratio is 56.51%.
LMT has been the topic of several analyst reports. Jefferies Group reiterated a “neutral” rating on shares of Lockheed Martin Corp. in a report on Tuesday, August 30th. Vetr upgraded Lockheed Martin Corp. from a “buy” rating to a “strong-buy” rating and set a $275.75 price objective on the stock in a research note on Monday, August 29th. Citigroup Inc. restated a “buy” rating and issued a $284.00 price objective (up previously from $239.00) on shares of Lockheed Martin Corp. in a research note on Tuesday, September 6th. JPMorgan Chase & Co. started coverage on Lockheed Martin Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating and a $284.00 price objective on the stock. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $245.00 price objective on shares of Lockheed Martin Corp. in a research note on Wednesday, August 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $257.32.
In related news, insider Orlando D. Carvalho sold 12,700 shares of Lockheed Martin Corp. 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 sale, the insider now owns 29,120 shares of the company’s stock, valued at approximately $7,419,193.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sondra L. Barbour sold 66,460 shares of Lockheed Martin Corp. stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $255.74, for a total transaction 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 disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate 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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