Westchester Capital Management Inc. Acquires 470 Shares of Lockheed Martin Co. (NYSE:LMT)
Westchester Capital Management Inc. lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,578 shares of the aerospace company’s stock after purchasing an additional 470 shares during the quarter. Lockheed Martin comprises about 4.5% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Westchester Capital Management Inc.’s holdings in Lockheed Martin were worth $11,480,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Advisors Preferred LLC purchased a new position in shares of Lockheed Martin in the 1st quarter worth $26,000. Heritage Wealth Advisors raised its position in shares of Lockheed Martin by 304.3% in the 1st quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock worth $28,000 after buying an additional 70 shares during the period. Ellis Investment Partners LLC purchased a new position in shares of Lockheed Martin in the 1st quarter worth $29,000. Covenant Multifamily Offices LLC purchased a new position in shares of Lockheed Martin in the 1st quarter worth $36,000. Finally, Bremer Bank National Association purchased a new position in shares of Lockheed Martin in the 1st quarter worth $41,000. Institutional investors and hedge funds own 78.70% of the company’s stock.
NYSE:LMT traded up $0.87 during mid-day trading on Wednesday, hitting $382.62. The company had a trading volume of 523,639 shares, compared to its average volume of 1,139,086. The business has a fifty day simple moving average of $368.27 and a 200-day simple moving average of $333.42. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $384.10. The firm has a market capitalization of $107.87 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.50 and a beta of 0.97.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 annualized dividend and a dividend yield of 2.30%. Lockheed Martin’s dividend payout ratio is presently 49.30%.
Several brokerages recently weighed in on LMT. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price on the stock in a research report on Thursday, April 25th. DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Cowen reissued a “buy” rating and issued a $360.00 price objective on shares of Lockheed Martin in a research report on Wednesday, April 24th. Finally, Robert W. Baird raised their price objective on Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Lockheed Martin currently has an average rating of “Buy” and an average target price of $367.86.
In other news, SVP Maryanne Lavan sold 1,003 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the sale, the senior vice president now directly owns 1,478 shares in the company, valued at $540,209. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Marillyn A. Hewson sold 19,500 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $369.14, for a total value of $7,198,230.00. Following the sale, the chairman now owns 46,534 shares of the company’s stock, valued at $17,177,560.76. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock valued at $8,292,527 over the last 90 days. Insiders own 0.35% of the company’s stock.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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