AE Wealth Management LLC Purchases 5,340 Shares of Lockheed Martin Co. (NYSE:LMT)

AE Wealth Management LLC grew its position in Lockheed Martin Co. (NYSE:LMT) by 95.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,943 shares of the aerospace company’s stock after purchasing an additional 5,340 shares during the quarter. AE Wealth Management LLC’s holdings in Lockheed Martin were worth $5,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. Capital Research Global Investors raised its stake in Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Lockheed Martin by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 833,264 shares of the aerospace company’s stock worth $389,218,000 after purchasing an additional 2,942 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Lockheed Martin by 3.3% in the 2nd quarter. LSV Asset Management now owns 505,427 shares of the aerospace company’s stock worth $236,085,000 after purchasing an additional 16,280 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $571.92 on Friday. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $578.73. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a 50-day moving average price of $545.61 and a 200-day moving average price of $488.74. The firm has a market capitalization of $137.23 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its 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 return on equity of 95.03% and a net margin of 9.48%. 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 firm posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The business 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 $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price target 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. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. Finally, UBS Group raised their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $553.43.

Insider Transactions at Lockheed Martin

In related 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 transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company’s stock.

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.