AQR Capital Management LLC increased its stake in Lockheed Martin Co. (NYSE:LMT) by 13.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,113 shares of the aerospace company’s stock after acquiring an additional 52,697 shares during the period. AQR Capital Management LLC owned approximately 0.15% of Lockheed Martin worth $158,908,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Cornerstone Advisors Inc. lifted its holdings in shares of Lockheed Martin by 44.1% in the first quarter. Cornerstone Advisors Inc. now owns 160 shares of the aerospace company’s stock worth $48,000 after acquiring an additional 49 shares during the last quarter. Advisors Preferred LLC bought a new position in Lockheed Martin in the 1st quarter valued at approximately $26,000. South Dakota Investment Council raised its holdings in Lockheed Martin by 4.6% in the 1st quarter. South Dakota Investment Council now owns 11,300 shares of the aerospace company’s stock valued at $3,392,000 after buying an additional 500 shares during the last quarter. Moloney Securities Asset Management LLC raised its holdings in Lockheed Martin by 13.6% in the 1st quarter. Moloney Securities Asset Management LLC now owns 4,075 shares of the aerospace company’s stock valued at $1,223,000 after buying an additional 488 shares during the last quarter. Finally, Optimum Investment Advisors raised its holdings in Lockheed Martin by 3.4% in the 1st quarter. Optimum Investment Advisors now owns 2,335 shares of the aerospace company’s stock valued at $701,000 after buying an additional 76 shares during the last quarter. 78.32% of the stock is owned by institutional investors and hedge funds.
Lockheed Martin stock traded down $5.41 during midday trading on Friday, reaching $381.47. The stock had a trading volume of 1,220,629 shares, compared to its average volume of 1,113,818. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36. The firm has a market capitalization of $107.73 billion, a PE ratio of 21.37, a P/E/G ratio of 2.55 and a beta of 0.96. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $399.96. The firm’s 50-day moving average price is $385.55 and its 200 day moving average price is $354.71.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The business had revenue of $14.42 billion during the quarter, compared to analyst estimates of $14.17 billion. During the same quarter in the previous year, the firm earned $4.31 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that Lockheed Martin Co. will post 21.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $2.40 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $9.60 annualized dividend and a dividend yield of 2.52%. Lockheed Martin’s payout ratio is presently 49.30%.
A number of analysts have weighed in on LMT shares. Morgan Stanley increased their target price on shares of Lockheed Martin from $376.00 to $381.00 and gave the company an “equal weight” rating in a research report on Thursday. DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Credit Suisse Group increased their target price on shares of Lockheed Martin from $379.00 to $401.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group increased their target price on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Barclays reaffirmed a “hold” rating and set a $410.00 price objective on shares of Lockheed Martin in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $372.64.
In related news, Director James D. Taiclet, Jr. acquired 1,354 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $376.32 per share, for a total transaction of $509,537.28. Following the completion of the transaction, the director now owns 1,354 shares of the company’s stock, valued at approximately $509,537.28. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Maryanne Lavan sold 1,003 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total value of $366,596.50. Following the completion of the sale, the senior vice president now owns 1,478 shares of the company’s stock, valued at approximately $540,209. The disclosure for this sale can be found here. Insiders sold a total of 22,503 shares of company stock valued at $8,292,527 in the last 90 days. 0.35% of the stock is currently owned by corporate insiders.
Lockheed Martin Profile
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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