DT Investment Partners LLC Purchases New Stake in Lockheed Martin Co. (NYSE:LMT)

DT Investment Partners LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 642 shares of the aerospace company’s stock, valued at approximately $233,000.

A number of other institutional investors also recently modified their holdings of the business. Private Trust Co. NA increased its position in Lockheed Martin by 0.5% during the 2nd quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock valued at $1,957,000 after purchasing an additional 28 shares during the period. Independence Bank of Kentucky grew its position in shares of Lockheed Martin by 12.0% in the 2nd quarter. Independence Bank of Kentucky now owns 280 shares of the aerospace company’s stock worth $102,000 after buying an additional 30 shares during the period. Psagot Investment House Ltd. grew its position in shares of Lockheed Martin by 2.7% in the 1st quarter. Psagot Investment House Ltd. now owns 1,164 shares of the aerospace company’s stock worth $349,000 after buying an additional 31 shares during the period. Ballentine Partners LLC grew its position in shares of Lockheed Martin by 4.0% in the 1st quarter. Ballentine Partners LLC now owns 833 shares of the aerospace company’s stock worth $250,000 after buying an additional 32 shares during the period. Finally, YorkBridge Wealth Partners LLC grew its position in shares of Lockheed Martin by 5.4% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 640 shares of the aerospace company’s stock worth $233,000 after buying an additional 33 shares during the period. 78.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of LMT stock opened at $377.01 on Friday. Lockheed Martin Co. has a one year low of $241.18 and a one year high of $379.36. The company’s 50-day moving average price is $364.87. The stock has a market cap of $104.29 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.97. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The company had revenue of $14.42 billion for the quarter, compared to the consensus estimate of $14.17 billion. During the same period in the prior year, the firm posted $4.31 EPS. Lockheed Martin’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Co. will post 21.23 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, August 30th. Lockheed Martin’s dividend payout ratio is currently 49.30%.

LMT has been the topic of a number of recent research reports. Credit Suisse Group upped their target price on shares of Lockheed Martin from $369.00 to $379.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Robert W. Baird upped their target price on shares of Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Morgan Stanley increased their price objective on shares of Lockheed Martin from $324.00 to $356.00 and gave the company an “equal weight” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Barclays increased their price objective on shares of Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $366.43.

In other Lockheed Martin news, insider Kenneth R. Possenriede sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $363.85, for a total transaction of $727,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Marillyn A. Hewson sold 19,500 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $369.14, for a total transaction of $7,198,230.00. Following the transaction, the chairman now owns 46,534 shares in the company, valued at approximately $17,177,560.76. The disclosure for this sale can be found here. Insiders have sold a total of 22,503 shares of company stock worth $8,292,527 in the last 90 days. Company insiders own 0.35% of the company’s stock.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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

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