Edgestream Partners L.P. Buys 1,232 Shares of Lockheed Martin Co. (NYSE:LMT)

Edgestream Partners L.P. grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 63.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,170 shares of the aerospace company’s stock after buying an additional 1,232 shares during the period. Edgestream Partners L.P.’s holdings in Lockheed Martin were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC boosted its holdings in 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 buying an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the first quarter worth about $30,000. Stephens Consulting LLC lifted its holdings in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Lockheed Martin during the 2nd quarter valued at about $35,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LMT shares. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Susquehanna lifted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. UBS Group lifted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $571.92 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.07 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 $578.73. The stock has a 50 day moving average of $545.61 and a 200-day moving average of $488.34. The company has a market capitalization of $137.23 billion, a P/E ratio of 20.93, a P/E/G ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the company posted $6.73 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders 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 annualized dividend and a dividend yield of 2.20%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction 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 approximately $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.