KAMES CAPITAL plc Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

KAMES CAPITAL plc raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,247 shares of the aerospace company’s stock after purchasing an additional 6,888 shares during the period. Lockheed Martin accounts for about 2.3% of KAMES CAPITAL plc’s portfolio, making the stock its 13th biggest position. KAMES CAPITAL plc owned about 0.08% of Lockheed Martin worth $87,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Baxter Bros Inc. raised its position in Lockheed Martin by 2.1% during the third quarter. Baxter Bros Inc. now owns 6,955 shares of the aerospace company’s stock valued at $2,713,000 after purchasing an additional 140 shares during the period. Sicart Associates LLC purchased a new stake in Lockheed Martin during the third quarter valued at approximately $536,000. Deane Retirement Strategies Inc. purchased a new stake in Lockheed Martin during the third quarter valued at approximately $1,916,000. Whittier Trust Co. raised its position in Lockheed Martin by 6.3% during the third quarter. Whittier Trust Co. now owns 9,112 shares of the aerospace company’s stock valued at $3,554,000 after purchasing an additional 538 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Lockheed Martin by 4.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,902 shares of the aerospace company’s stock valued at $1,132,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 78.41% of the company’s stock.

In related news, Chairman Marillyn A. Hewson sold 19,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total value of $7,198,230.00. Following the transaction, the chairman now owns 46,534 shares of the company’s stock, valued at $17,177,560.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kenneth R. Possenriede sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $363.85, for a total value of $727,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 22,503 shares of company stock worth $8,292,527. 0.35% of the stock is owned by insiders.

LMT has been the topic of a number of recent research reports. Barclays restated a “hold” rating and set a $410.00 price objective on shares of Lockheed Martin in a research report on Wednesday, October 9th. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Saturday. Credit Suisse Group upped their target price on Lockheed Martin from $379.00 to $401.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley upped their target price on Lockheed Martin from $376.00 to $381.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $372.64.

Shares of LMT traded up $1.03 during mid-day trading on Monday, reaching $373.52. 694,589 shares of the company’s stock traded hands, compared to its average volume of 1,069,389. The stock has a market cap of $106.48 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.50 and a beta of 0.96. The stock’s 50-day moving average is $385.59 and its two-hundred day moving average is $357.65. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $399.96. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.20 and a quick ratio of 0.96.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.26. The firm had revenue of $14.42 billion for the quarter, compared to analysts’ expectations of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.31 earnings per share. Research analysts predict that Lockheed Martin Co. will post 21.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $2.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $9.60 annualized dividend and a yield of 2.57%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio is 49.30%.

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.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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