Wright Investors Service Inc. Has $4.83 Million Position in Lockheed Martin Co. (NYSE:LMT)

Wright Investors Service Inc. grew its stake in Lockheed Martin Co. (NYSE:LMT) by 3.6% during the second quarter, HoldingsChannel reports. The firm owned 13,293 shares of the aerospace company’s stock after buying an additional 461 shares during the quarter. Lockheed Martin accounts for about 1.8% of Wright Investors Service Inc.’s investment portfolio, making the stock its 14th largest holding. Wright Investors Service Inc.’s holdings in Lockheed Martin were worth $4,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of LMT. Thoroughbred Financial Services LLC boosted its stake in shares of Lockheed Martin by 38,923.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock valued at $134,122,000 after purchasing an additional 1,337,784 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lockheed Martin by 25.3% in the 4th quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after purchasing an additional 691,751 shares in the last quarter. Confluence Investment Management LLC boosted its stake in shares of Lockheed Martin by 458.3% in the 1st quarter. Confluence Investment Management LLC now owns 348,533 shares of the aerospace company’s stock valued at $104,616,000 after purchasing an additional 286,105 shares in the last quarter. Waverton Investment Management Ltd boosted its stake in shares of Lockheed Martin by 159.0% in the 2nd quarter. Waverton Investment Management Ltd now owns 235,976 shares of the aerospace company’s stock valued at $85,787,000 after purchasing an additional 144,869 shares in the last quarter. Finally, Pennsylvania Trust Co boosted its stake in shares of Lockheed Martin by 1,081.8% in the 1st quarter. Pennsylvania Trust Co now owns 129,441 shares of the aerospace company’s stock valued at $957,000 after purchasing an additional 118,488 shares in the last quarter. Institutional investors own 78.55% of the company’s stock.

NYSE:LMT traded up $2.33 during mid-day trading on Thursday, hitting $371.27. 30,433 shares of the company’s stock were exchanged, compared to its average volume of 1,221,291. The stock’s 50 day moving average is $366.41. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.20 and a quick ratio of 0.96. Lockheed Martin Co. has a fifty-two week low of $241.18 and a fifty-two week high of $381.51. The company has a market cap of $106.46 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.50 and a beta of 0.97.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, topping 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 business had revenue of $14.42 billion for the quarter, compared to the consensus estimate of $14.17 billion. During the same period last year, the company earned $4.31 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that Lockheed Martin Co. will post 21.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued 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 yield of 2.37%. Lockheed Martin’s payout ratio is 49.30%.

In other Lockheed Martin news, SVP Maryanne Lavan sold 1,003 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the transaction, the senior vice president now owns 1,478 shares in the company, valued at approximately $540,209. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James D. Taiclet, Jr. purchased 1,354 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $376.32 per share, with a total value of $509,537.28. Following the acquisition, the director now owns 1,354 shares in the company, valued at approximately $509,537.28. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 22,503 shares of company stock valued at $8,292,527. Company insiders own 0.35% of the company’s stock.

LMT has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Bank of America restated a “buy” rating and issued a $400.00 price target (up from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target on the stock in a research note on Thursday, April 25th. Robert W. Baird raised their price target on shares of Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley raised their price target on shares of Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $367.86.

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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