Alps Advisors Inc. Has $501,000 Stake in Lockheed Martin Corp. (LMT)
Alps Advisors Inc. cut its position in Lockheed Martin Corp. (NYSE:LMT) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,017 shares of the company’s stock after selling 125 shares during the period. Alps Advisors Inc.’s holdings in Lockheed Martin Corp. were worth $501,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Americafirst Capital Management LLC purchased a new stake in Lockheed Martin Corp. during the second quarter worth approximately $103,000. Benjamin F. Edwards & Company Inc. raised its stake 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 worth $192,000 after buying an additional 33 shares in the last quarter. Zions Bancorporation raised its stake in Lockheed Martin Corp. by 102.3% in the first quarter. Zions Bancorporation now owns 809 shares of the company’s stock worth $182,000 after buying an additional 409 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in Lockheed Martin Corp. during the second quarter worth approximately $201,000. Finally, Diversified Trust Co purchased a new stake in Lockheed Martin Corp. during the second quarter worth approximately $201,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded up 0.36% during mid-day trading on Monday, hitting $240.58. 1,339,016 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 stock has a market cap of $72.87 billion, a PE ratio of 20.03 and a beta of 0.59. The stock’s 50 day moving average is $245.10 and its 200-day moving average is $241.54.
Lockheed Martin Corp. (NYSE:LMT) last released its earnings results on Tuesday, July 19th. The company reported $3.32 earnings per share for the quarter, topping the 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 last year, the company earned $2.94 earnings per share. On average, analysts anticipate that Lockheed Martin Corp. will post $11.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 3.03%. This is an increase from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. The ex-dividend date is Tuesday, November 29th. Lockheed Martin Corp.’s dividend payout ratio (DPR) is 56.51%.
A number of research firms recently commented on LMT. Argus upped their price target on shares of Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Citigroup Inc. reiterated a “buy” rating and set a $284.00 price target (up from $239.00) on shares of Lockheed Martin Corp. in a report on Tuesday, September 6th. Zacks Investment Research upgraded shares of Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $288.00 price target for the company in a report on Monday, July 18th. Jefferies Group restated a “hold” rating on shares of Lockheed Martin Corp. in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Lockheed Martin Corp. in a report on Thursday, August 25th. They issued a “neutral” rating and a $284.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $258.43.
In related news, insider Sondra L. Barbour sold 66,460 shares of Lockheed Martin Corp. stock in a transaction dated 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 $7,979,088. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlando D. Carvalho sold 12,700 shares of Lockheed Martin Corp. stock in a transaction dated 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 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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