Wedge Capital Management L L P NC Invests $58.62 Million in Lockheed Martin Co. (NYSE:LMT)

Wedge Capital Management L L P NC acquired a new stake in Lockheed Martin Co. (NYSE:LMTFree Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 100,283 shares of the aerospace company’s stock, valued at approximately $58,621,000. Lockheed Martin comprises about 1.0% of Wedge Capital Management L L P NC’s holdings, making the stock its 22nd largest position.

Several other institutional investors also recently bought and sold shares of LMT. GAMMA Investing LLC grew its holdings in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after acquiring an additional 2,019 shares during the period. Buck Wealth Strategies LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth $6,611,000. Verity & Verity LLC increased its holdings in shares of Lockheed Martin by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after purchasing an additional 2,400 shares during the period. Finally, Watts Gwilliam & Co. LLC purchased a new stake in Lockheed Martin during the third quarter worth about $1,096,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Wells Fargo & Company raised their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. 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 research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $587.15.

Get Our Latest Analysis on LMT

Lockheed Martin Trading Up 0.3 %

Shares of LMT traded up $2.01 during trading hours on Monday, hitting $606.18. The stock had a trading volume of 132,937 shares, compared to its average volume of 1,051,614. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $611.59. The firm has a market cap of $145.45 billion, a P/E ratio of 22.17, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The company’s fifty day simple moving average is $572.03 and its 200 day simple moving average is $505.57.

Lockheed Martin (NYSE:LMTGet Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating 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 period in the previous year, the company posted $6.73 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.18%. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Lockheed Martin Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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