Cullen Frost Bankers Inc. Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

Cullen Frost Bankers Inc. boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,815 shares of the aerospace company’s stock after buying an additional 201 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Lockheed Martin were worth $14,394,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Gentry Private Wealth LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth approximately $390,000. Lake Street Advisors Group LLC lifted its holdings in Lockheed Martin by 0.6% during the 2nd quarter. Lake Street Advisors Group LLC now owns 6,754 shares of the aerospace company’s stock worth $3,155,000 after buying an additional 39 shares in the last quarter. Advisor OS LLC lifted its holdings in Lockheed Martin by 18.0% during the 2nd quarter. Advisor OS LLC now owns 2,489 shares of the aerospace company’s stock worth $1,163,000 after buying an additional 379 shares in the last quarter. Savant Capital LLC lifted its holdings in Lockheed Martin by 12.4% during the 2nd quarter. Savant Capital LLC now owns 7,715 shares of the aerospace company’s stock worth $3,604,000 after buying an additional 852 shares in the last quarter. Finally, Narwhal Capital Management lifted its holdings in Lockheed Martin by 11.8% during the 2nd quarter. Narwhal Capital Management now owns 29,397 shares of the aerospace company’s stock worth $13,731,000 after buying an additional 3,103 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $500.00 to $600.00 in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Barclays lifted their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Performance

LMT stock traded down $1.96 during trading on Friday, hitting $566.63. The company had a trading volume of 976,688 shares, compared to its average volume of 1,069,765. The firm has a market cap of $135.96 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $578.73. The firm has a 50-day moving average price of $524.33 and a 200-day moving average price of $478.58. 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 (NYSE:LMT) last issued its quarterly earnings results 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 analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.73 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Insiders Place Their Bets

In other Lockheed Martin 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 transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by 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.