Sei Investments Co. Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Sei Investments Co. lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 60.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,344 shares of the aerospace company’s stock after buying an additional 26,797 shares during the quarter. Sei Investments Co.’s holdings in Lockheed Martin were worth $33,327,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after purchasing an additional 73,774 shares during the period. Brevan Howard Capital Management LP grew its stake in Lockheed Martin by 414.2% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after buying an additional 5,736 shares during the last quarter. New Mexico Educational Retirement Board increased its position in Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after buying an additional 2,400 shares during the period. Finally, American National Bank lifted its stake in Lockheed Martin by 26.8% in the first quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock valued at $16,638,000 after buying an additional 7,731 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $500.00 to $600.00 in a report on Monday, August 5th. Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Susquehanna boosted 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. Morgan Stanley upped 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. Finally, TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the company from $480.00 to $560.00 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Up 1.5 %

Shares of NYSE LMT opened at $580.59 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a 50-day moving average price of $547.94 and a 200 day moving average price of $490.19. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $581.75. The stock has a market capitalization of $139.31 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS 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 for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the company earned $6.73 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate 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. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.17%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

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.