Algert Global LLC Buys Shares of 594 Lockheed Martin Co. (NYSE:LMT)

Algert Global LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 594 shares of the aerospace company’s stock, valued at approximately $277,000.

Several other large investors also recently modified their holdings of LMT. GAMMA Investing LLC grew its stake in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares during the period. Brevan Howard Capital Management LP increased its holdings in Lockheed Martin by 414.2% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after buying an additional 5,736 shares during the last quarter. New Mexico Educational Retirement Board raised its position in Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after acquiring an additional 2,400 shares during the period. American National Bank boosted its stake in shares of Lockheed Martin by 26.8% during the 1st quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock worth $16,638,000 after acquiring an additional 7,731 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Lockheed Martin by 7.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 32,076 shares of the aerospace company’s stock worth $14,983,000 after purchasing an additional 2,282 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of several analyst reports. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Barclays upped their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $568.31.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated 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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.5 %

Shares of Lockheed Martin stock opened at $605.12 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market cap of $145.19 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $611.59. The business has a 50-day moving average price of $568.68 and a 200-day moving average price of $502.34.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for 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 quarter in the previous year, the company posted $6.73 EPS. Equities research analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

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.