Deseret Mutual Benefit Administrators Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Deseret Mutual Benefit Administrators grew its stake in Lockheed Martin Co. (NYSE:LMT) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,340 shares of the aerospace company’s stock after buying an additional 214 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Lockheed Martin were worth $1,093,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Franklin Resources Inc. increased its stake in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after acquiring an additional 336,588 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lockheed Martin by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock valued at $470,536,000 after purchasing an additional 27,349 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of 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. Envestnet Asset Management Inc. lifted its position in Lockheed Martin by 1.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock worth $324,897,000 after buying an additional 9,136 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after buying an additional 274,680 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.3 %

LMT traded down $7.20 on Thursday, hitting $567.58. The company had a trading volume of 60,155 shares, compared to its average volume of 1,065,694. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $578.73. The stock has a fifty day simple moving average of $520.31 and a 200-day simple moving average of $476.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a market capitalization of $136.18 billion, a P/E ratio of 21.03, a P/E/G ratio of 4.56 and a beta of 0.46.

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. The company had revenue of $18.12 billion during 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% compared to the same quarter last year. During the same quarter last year, the business posted $6.73 EPS. As a group, equities analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LMT. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Susquehanna boosted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. UBS Group boosted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin 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 completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.