Shares of Lockheed Martin Co. (NYSE:LMT) bought by Boston Research & Management Inc.

VaselineSeptember 21, 2024

0 4 minutes read

Boston Research & Management Inc. increased its holdings in Lockheed Martin Co. (NYSE:LMT – Free Report) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,980 shares of the aerospace company’s stock after purchasing an additional 45 shares during the quarter. Boston Research & Management Inc. holdings in Lockheed Martin were worth $5,128,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Sei Investments Co. boosted its stake in Lockheed Martin by 60.2% in the second quarter. Sei Investments Co. now owns 71,344 shares of the aerospace company’s stock worth $33,327,000 after purchasing an additional 26,797 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Lockheed Martin by 7.3% during the second quarter. Pacer Advisors Inc. now owns 25,279 shares of the aerospace company’s stock valued at $11,808,000 after purchasing an additional 1,724 shares during the last quarter. AE Wealth Management LLC boosted its stake in shares of Lockheed Martin by 95.3% in the second quarter. AE Wealth Management LLC now owns 10,943 shares of the aerospace company’s stock worth $5,112,000 after acquiring an additional 5,340 shares in the last quarter. Weaver C. Barksdale & Associates Inc. lifted its position in Lockheed Martin by 18.7% during the second quarter. Weaver C. Barksdale & Associates Inc. now owns 4,448 shares of the aerospace company’s stock worth $2,078,000 after acquiring an additional 702 shares during the period. Finally, Bridges Investment Management Inc. grew its stake in Lockheed Martin by 190.3% during the second quarter. Bridges Investment Management Inc. now owns 39,070 shares of the aerospace company’s stock valued at $18,250,000 after buying an additional 25,610 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s shares.

Analyst upgrades and downgrades

A number of equities analysts have issued reports on LMT shares. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the company from $540.00 to $600.00 in a research note on Friday, July 26. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $500.00 to $600.00 in a report on Monday. , August 5. Finally, UBS Group boosted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $553.43, according to MarketBeat.

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Insider buying and selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. 0.17% of shares are owned by corporate insiders.

Lockheed Martin trading rose 1.2%

Shares of LMT stock opened at $571.92 on Friday. Lockheed Martin Co. it has a 52-week low of $393.77 and a 52-week high of $578.73. The stock has a market cap of $137.23 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company’s fifty day moving average is $545.61 and its two hundred day moving average is $488.34. 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 – Get Free Report ) last posted its quarterly 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. The firm had revenue of $18.12 billion during 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 company’s revenue for the quarter was up 8.6% year over year. In the same quarter last year, the company earned $6.73 per share. Research analysts estimate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin announces dividend

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

About Lockheed Martin

(Free Report)

Lockheed Martin Corporation, a security and aerospace company, is engaged in the research, design, development, manufacture, integration and support of technology systems, products and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.