Trinity Legacy Partners LLC Makes New $2.68 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Trinity Legacy Partners LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,745 shares of the aerospace company’s stock, valued at approximately $2,683,000.

A number of other large investors have also recently made changes to their positions in LMT. HTLF Bank lifted its holdings in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC raised its position in shares of Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares during the period. Sachetta LLC lifted its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. Goldstein Advisors LLC boosted its holdings in Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after buying an additional 21 shares during the period. Finally, Hudock Inc. increased its stake in Lockheed Martin by 1.3% in the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $578.63 on Wednesday. The company’s 50-day moving average price is $550.14 and its 200-day moving average price is $491.21. 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 company has a market cap of $137.92 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $581.75.

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, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $6.73 earnings per share. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a yield of 2.18%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s 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 transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on LMT. Barclays boosted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Wells Fargo & Company upped their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

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.