Goodman Advisory Group LLC Invests $6.42 Million in Lockheed Martin Co. (NYSE:LMT)

Goodman Advisory Group LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMTGet Rating) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 14,539 shares of the aerospace company’s stock, valued at approximately $6,418,000. Lockheed Martin accounts for approximately 2.2% of Goodman Advisory Group LLC’s holdings, making the stock its 14th largest position.

Several other hedge funds have also made changes to their positions in the business. Capital World Investors raised its holdings in Lockheed Martin by 9.4% in the fourth quarter. Capital World Investors now owns 13,462,533 shares of the aerospace company’s stock valued at $4,784,686,000 after acquiring an additional 1,152,397 shares in the last quarter. Capital Research Global Investors raised its holdings in Lockheed Martin by 16.1% in the fourth quarter. Capital Research Global Investors now owns 3,288,398 shares of the aerospace company’s stock valued at $1,168,730,000 after acquiring an additional 456,524 shares in the last quarter. BlackRock Inc. raised its holdings in Lockheed Martin by 1.6% in the fourth quarter. BlackRock Inc. now owns 17,560,981 shares of the aerospace company’s stock valued at $6,241,348,000 after acquiring an additional 274,160 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,991,404 shares of the aerospace company’s stock valued at $1,773,996,000 after acquiring an additional 212,470 shares in the last quarter. Finally, Stonegate Investment Group LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at approximately $42,666,000. Institutional investors and hedge funds own 78.89% of the company’s stock.

Insider Activity at Lockheed Martin

In related news, EVP Gregory M. Ulmer sold 6,929 shares of Lockheed Martin stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Lockheed Martin news, EVP Gregory M. Ulmer sold 6,929 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total value of $2,936,995.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Donovan bought 632 shares of Lockheed Martin stock in a transaction on Wednesday, July 20th. The stock was acquired at an average cost of $396.16 per share, with a total value of $250,373.12. Following the acquisition, the director now owns 1,200 shares of the company’s stock, valued at approximately $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

Shares of LMT traded down $5.14 during mid-day trading on Friday, reaching $422.99. 22,625 shares of the company’s stock were exchanged, compared to its average volume of 1,331,028. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.06. The stock has a market capitalization of $112.16 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 3.04 and a beta of 0.67. The business’s fifty day simple moving average is $419.28 and its 200-day simple moving average is $424.63. Lockheed Martin Co. has a 52-week low of $324.23 and a 52-week high of $479.99.

Lockheed Martin (NYSE:LMTGet Rating) last announced its earnings results on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. The business had revenue of $15.45 billion for the quarter, compared to analysts’ expectations of $16.02 billion. During the same quarter last year, the business posted $7.13 earnings per share. The business’s revenue was down 9.3% on a year-over-year basis. On average, equities research analysts expect that Lockheed Martin Co. will post 25.93 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be given a $2.80 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $11.20 dividend on an annualized basis and a yield of 2.65%. Lockheed Martin’s dividend payout ratio (DPR) is 64.81%.

Analyst Ratings Changes

Several brokerages recently weighed in on LMT. Argus raised their target price on shares of Lockheed Martin from $415.00 to $500.00 in a report on Wednesday, April 20th. Susquehanna raised their price objective on shares of Lockheed Martin from $515.00 to $539.00 in a report on Wednesday, April 20th. Susquehanna Bancshares raised their price objective on shares of Lockheed Martin from $515.00 to $539.00 in a report on Wednesday, April 20th. Seaport Res Ptn reissued a “buy” rating on shares of Lockheed Martin in a report on Tuesday, April 19th. Finally, Morgan Stanley cut their price objective on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $448.00.

Lockheed Martin Profile

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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, Rotary and Mission Systems, and Space.

Further Reading

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

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