Adage Capital Partners GP L.L.C. Invests $125,819,000 in Lockheed Martin Corp. (LMT)
Adage Capital Partners GP L.L.C. bought a new position in Lockheed Martin Corp. (NYSE:LMT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 506,989 shares of the company’s stock, valued at approximately $125,819,000. Adage Capital Partners GP L.L.C. owned about 0.17% of Lockheed Martin Corp. at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Americafirst Capital Management LLC acquired a new position in Lockheed Martin Corp. during the second quarter worth $103,000. Arrow Financial Corp raised its position in shares of Lockheed Martin Corp. by 3.5% in the second quarter. Arrow Financial Corp now owns 439 shares of the company’s stock worth $109,000 after buying an additional 15 shares in the last quarter. First Personal Financial Services raised its position in shares of Lockheed Martin Corp. by 163.1% in the second quarter. First Personal Financial Services now owns 542 shares of the company’s stock worth $135,000 after buying an additional 336 shares in the last quarter. Signaturefd LLC raised its position in shares of Lockheed Martin Corp. by 14.9% in the second quarter. Signaturefd LLC now owns 546 shares of the company’s stock worth $135,000 after buying an additional 71 shares in the last quarter. Finally, Reilly Financial Advisors LLC raised its position in shares of Lockheed Martin Corp. by 13.1% in the second quarter. Reilly Financial Advisors LLC now owns 588 shares of the company’s stock worth $146,000 after buying an additional 68 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded up 0.74% during trading on Friday, hitting $259.17. The stock had a trading volume of 2,002,930 shares. Lockheed Martin Corp. has a 52 week low of $200.47 and a 52 week high of $266.93. The firm has a 50-day moving average price of $240.51 and a 200 day moving average price of $244.39. The company has a market capitalization of $75.93 billion, a PE ratio of 15.16 and a beta of 0.65.
Lockheed Martin Corp. (NYSE:LMT) last announced its earnings results on Tuesday, October 25th. The company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.75. Lockheed Martin Corp. had a return on equity of 131.23% and a net margin of 10.48%. The firm earned $11.60 billion during the quarter, compared to analyst estimates of $11.49 billion. During the same quarter in the prior year, the company earned $2.76 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. Equities analysts anticipate that Lockheed Martin Corp. will post $12.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be given a $1.82 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $7.28 annualized dividend and a dividend yield of 2.81%. This is a positive change from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. Lockheed Martin Corp.’s dividend payout ratio is currently 39.19%.
A number of research analysts have commented on LMT shares. Zacks Investment Research raised Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $288.00 price objective on the stock in a report on Monday, July 18th. Drexel Hamilton reaffirmed a “buy” rating and issued a $284.00 price objective on shares of Lockheed Martin Corp. in a report on Wednesday, July 20th. Argus upped their price objective on Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $255.00 price objective (up from $225.00) on shares of Lockheed Martin Corp. in a report on Friday, July 22nd. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Lockheed Martin Corp. in a report on Wednesday, August 3rd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Lockheed Martin Corp. has an average rating of “Hold” and a consensus target price of $261.78.
About Lockheed Martin Corp.
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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