Comerica Bank Acquires 8,699 Shares of Lockheed Martin Co. (NYSE:LMT)

Comerica Bank grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 12.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,572 shares of the aerospace company’s stock after purchasing an additional 8,699 shares during the quarter. Comerica Bank’s holdings in Lockheed Martin were worth $35,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Pacific Financial purchased a new position in shares of Lockheed Martin during the 1st quarter valued at $25,000. Altshuler Shaham Ltd bought a new position in shares of Lockheed Martin in the fourth quarter worth about $26,000. Wiser Advisor Group LLC grew its position in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin during the 1st quarter valued at approximately $30,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in Lockheed Martin by 1,925.0% in the 4th quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on LMT shares. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the company from $540.00 to $600.00 in a research report on Friday, July 26th. Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Barclays upped their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, UBS Group raised their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $526.77.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Up 0.9 %

Shares of NYSE LMT traded up $4.61 during trading hours on Thursday, hitting $546.53. 469,371 shares of the stock were exchanged, compared to its average volume of 1,084,292. The firm has a fifty day moving average price of $473.63 and a 200-day moving average price of $455.54. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $547.00. The company has a market cap of $130.27 billion, a PE ratio of 19.84, a PEG ratio of 4.57 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.73 earnings per share. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.31%. Lockheed Martin’s payout ratio is currently 46.10%.

About Lockheed Martin

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.