IMS Capital Management Acquires 171 Shares of Lockheed Martin Co. (NYSE:LMT)

IMS Capital Management increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,344 shares of the aerospace company’s stock after purchasing an additional 171 shares during the period. IMS Capital Management’s holdings in Lockheed Martin were worth $1,066,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Pacific Financial acquired a new stake in Lockheed Martin in the 1st quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC increased its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin during the 1st quarter worth approximately $30,000. Finally, Thompson Investment Management Inc. acquired a new position in shares of Lockheed Martin during the 1st quarter worth approximately $38,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT traded down $0.09 during trading on Friday, hitting $548.77. The stock had a trading volume of 1,484,756 shares, compared to its average volume of 1,127,651. The company has a 50 day moving average price of $476.89 and a 200-day moving average price of $456.78. The firm has a market cap of $130.80 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $561.12. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

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

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.30%. Lockheed Martin’s payout ratio is 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. Bank of America raised Lockheed Martin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $465.00 to $635.00 in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $526.77.

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