Quadrant Private Wealth Management LLC Invests $267,000 in Lockheed Martin Co. (LMT) Stock

Quadrant Private Wealth Management LLC bought a new stake in Lockheed Martin Co. (NYSE:LMT) during the 2nd quarter, HoldingsChannel reports. The fund bought 904 shares of the aerospace company’s stock, valued at approximately $267,000.

A number of other large investors also recently added to or reduced their stakes in LMT. Summit Trail Advisors LLC lifted its stake in Lockheed Martin by 32,852.9% in the first quarter. Summit Trail Advisors LLC now owns 483,748 shares of the aerospace company’s stock valued at $484,000 after buying an additional 482,280 shares during the period. Millennium Management LLC lifted its stake in Lockheed Martin by 211.4% in the first quarter. Millennium Management LLC now owns 588,674 shares of the aerospace company’s stock valued at $198,931,000 after buying an additional 399,639 shares during the period. Point72 Asset Management L.P. lifted its stake in Lockheed Martin by 579.9% in the first quarter. Point72 Asset Management L.P. now owns 388,919 shares of the aerospace company’s stock valued at $131,427,000 after buying an additional 331,719 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Lockheed Martin by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,552,936 shares of the aerospace company’s stock valued at $754,213,000 after buying an additional 292,851 shares during the period. Finally, CIBC World Markets Inc. lifted its stake in Lockheed Martin by 2,001.3% in the first quarter. CIBC World Markets Inc. now owns 292,963 shares of the aerospace company’s stock valued at $99,001,000 after buying an additional 279,021 shares during the period. 78.23% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Marillyn A. Hewson sold 25,000 shares of Lockheed Martin stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $323.68, for a total value of $8,092,000.00. Following the sale, the chairman now owns 90,625 shares of the company’s stock, valued at approximately $29,333,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maryanne Lavan sold 7,250 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total value of $2,346,390.00. Following the completion of the sale, the senior vice president now directly owns 9,869 shares in the company, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Several equities analysts have weighed in on LMT shares. Cowen reissued a “hold” rating and issued a $370.00 target price on shares of Lockheed Martin in a research note on Tuesday, April 24th. TheStreet raised Lockheed Martin from a “c” rating to a “b-” rating in a research note on Tuesday, April 24th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $369.00 target price on the stock in a research note on Friday, April 27th. Credit Suisse Group cut their target price on Lockheed Martin from $380.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 22nd. Finally, ValuEngine lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $370.38.

Lockheed Martin opened at $313.12 on Friday, according to MarketBeat.com. The stock has a market cap of $89.91 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.50 and a beta of 0.71. The company has a current ratio of 1.19, a quick ratio of 0.97 and a debt-to-equity ratio of 28.14. Lockheed Martin Co. has a one year low of $291.52 and a one year high of $363.00.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 24th. The aerospace company reported $4.31 EPS for the quarter, topping the Zacks’ consensus estimate of $3.92 by $0.39. The company had revenue of $13.40 billion for the quarter, compared to analyst estimates of $12.72 billion. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. Lockheed Martin’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.23 earnings per share. research analysts anticipate that Lockheed Martin Co. will post 17.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, August 31st. Lockheed Martin’s dividend payout ratio is presently 60.02%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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