Torray Investment Partners LLC Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Torray Investment Partners LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,653 shares of the aerospace company’s stock after purchasing an additional 83 shares during the quarter. Torray Investment Partners LLC’s holdings in Lockheed Martin were worth $3,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Lockheed Martin by 14.9% in 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 acquiring an additional 336,588 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at about $151,402,000. Corient Private Wealth LLC grew its position in Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $500.00 to $600.00 in a report on Monday, August 5th. UBS Group upped their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Stock Down 0.3 %

Shares of LMT traded down $1.96 during trading hours 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 stock has a market capitalization of $135.96 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 4.56 and a beta of 0.46. The firm has a fifty day moving average price of $524.33 and a 200-day moving average price of $478.58. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $578.73. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the company posted $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm 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 dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Activity at Lockheed Martin

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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

About Lockheed Martin

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.