ProShare Advisors LLC Purchases 1,921 Shares of Lockheed Martin Co. (NYSE:LMT)

ProShare Advisors LLC increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.0% during the second quarter, HoldingsChannel.com reports. The fund owned 33,727 shares of the aerospace company’s stock after acquiring an additional 1,921 shares during the period. ProShare Advisors LLC’s holdings in Lockheed Martin were worth $15,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LMT. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC grew its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin in the 1st quarter worth about $30,000. Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at about $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 1.5 %

NYSE LMT opened at $580.59 on Tuesday. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $581.75. 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 stock has a market cap of $139.31 billion, a PE ratio of 21.24, a P/E/G ratio of 4.55 and a beta of 0.47. The stock’s 50 day moving average is $547.94 and its 200 day moving average is $490.19.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share 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 during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the business posted $6.73 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.17%. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Barclays lifted 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. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.