EverSource Wealth Advisors LLC Acquires 1,895 Shares of Lockheed Martin Co. (NYSE:LMT)

EverSource Wealth Advisors LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 168.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,020 shares of the aerospace company’s stock after purchasing an additional 1,895 shares during the period. EverSource Wealth Advisors LLC’s holdings in Lockheed Martin were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of LMT. Wulff Hansen & CO. boosted its holdings in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the period. Van ECK Associates Corp lifted its holdings in 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 worth $218,841,000 after purchasing an additional 440,169 shares in the last quarter. Confluence Investment Management LLC bought a new position in Lockheed Martin in the 1st quarter worth about $151,402,000. Capital Research Global Investors grew its holdings 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 buying an additional 218,506 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after buying an additional 218,466 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the 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 directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LMT. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays boosted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $571.92 on Monday. 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 company has a market cap of $137.23 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73. The company has a 50-day moving average price of $545.61 and a 200-day moving average price of $489.13.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter last year, the business posted $6.73 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Dividend Announcement

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 given a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.20%. Lockheed Martin’s dividend payout ratio is 46.10%.

Lockheed Martin Company Profile

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.