Old West Investment Management LLC Raises Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Old West Investment Management LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,990 shares of the aerospace company’s stock after acquiring an additional 986 shares during the quarter. Lockheed Martin accounts for about 5.1% of Old West Investment Management LLC’s holdings, making the stock its 7th biggest holding. Old West Investment Management LLC’s holdings in Lockheed Martin were worth $11,673,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LMT. Wulff Hansen & CO. lifted its position in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Lockheed Martin by 1,075.2% in the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the period. Franklin Resources Inc. boosted its stake in shares of Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Lockheed Martin during the first quarter valued at about $151,402,000. Finally, Corient Private Wealth LLC raised its stake in Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after buying an additional 274,680 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LMT. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Susquehanna raised their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays boosted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by insiders.

Lockheed Martin Stock Performance

Shares of LMT opened at $572.92 on Tuesday. The company has a market cap of $136.56 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 4.55 and a beta of 0.47. The business’s fifty day simple moving average is $537.11 and its two-hundred day simple moving average is $485.28. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73. 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 (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the firm posted $6.73 earnings per share. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.20%. Lockheed Martin’s payout ratio is 46.10%.

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.