AGF Management Ltd. Buys 757 Shares of Lockheed Martin Co. (NYSE:LMT)

AGF Management Ltd. boosted its position in Lockheed Martin Co. (NYSE:LMT) by 11.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,180 shares of the aerospace company’s stock after buying an additional 757 shares during the period. AGF Management Ltd.’s holdings in Lockheed Martin were worth $3,354,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LMT. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its stake in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin during the first quarter worth $30,000. Stephens Consulting LLC lifted its stake in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Lockheed Martin during the second quarter valued at about $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $568.27 on Friday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73. The firm’s 50-day simple moving average is $532.73 and its two-hundred day simple moving average is $482.55. The firm has a market cap of $136.35 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 4.55 and a beta of 0.47. 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 announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $6.73 earnings per share. As a group, equities analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Barclays increased their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lifted their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley raised their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $553.43.

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.