PFG Advisors Has $1.39 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)
PFG Advisors grew its position in Lockheed Martin Co. (NYSE:LMT) by 13.8% in the second quarter, HoldingsChannel.com reports. The fund owned 3,754 shares of the aerospace company’s stock after buying an additional 455 shares during the quarter. PFG Advisors’ holdings in Lockheed Martin were worth $1,387,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of LMT. Advisors Preferred LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $26,000. Heritage Wealth Advisors raised its position in shares of Lockheed Martin by 304.3% during the 1st quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 70 shares during the last quarter. Ellis Investment Partners LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $29,000. Covenant Multifamily Offices LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $36,000. Finally, Bremer Bank National Association bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $41,000. Institutional investors own 78.70% of the company’s stock.
Several analysts have commented on LMT shares. Bank of America reiterated a “buy” rating and set a $400.00 target price (up previously from $390.00) on shares of Lockheed Martin in a research report on Wednesday, April 24th. ValuEngine upgraded shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price for the company in a research report on Thursday, April 25th. Finally, UBS Group upped their target price on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $367.86.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The company had revenue of $14.42 billion during the quarter, compared to analyst estimates of $14.17 billion. During the same quarter in the previous year, the business earned $4.31 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. On average, analysts expect that Lockheed Martin Co. will post 21.2 earnings per share for the current year.
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 issued a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, August 30th. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.
In other news, SVP Maryanne Lavan sold 1,003 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total value of $366,596.50. Following the completion of the transaction, the senior vice president now owns 1,478 shares of the company’s stock, valued at approximately $540,209. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James D. Taiclet, Jr. purchased 1,354 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $376.32 per share, with a total value of $509,537.28. Following the acquisition, the director now directly owns 1,354 shares in the company, valued at $509,537.28. The disclosure for this purchase can be found here. Insiders sold a total of 22,503 shares of company stock valued at $8,292,527 in the last three months. 0.35% of the stock is owned by company insiders.
Lockheed Martin 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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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