Wakefield Asset Management LLLP Invests $275,000 in Lockheed Martin Co. (NYSE:LMT)

Wakefield Asset Management LLLP bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 728 shares of the aerospace company’s stock, valued at approximately $275,000.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Lockheed Martin by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 4,141,309 shares of the aerospace company’s stock worth $1,526,520,000 after buying an additional 73,845 shares during the last quarter. Morgan Stanley boosted its position in Lockheed Martin by 15.8% during the first quarter. Morgan Stanley now owns 4,018,123 shares of the aerospace company’s stock valued at $1,484,697,000 after purchasing an additional 546,951 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Lockheed Martin by 4.9% in the first quarter. Ameriprise Financial Inc. now owns 2,630,721 shares of the aerospace company’s stock valued at $972,175,000 after purchasing an additional 122,509 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Lockheed Martin by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 2,598,091 shares of the aerospace company’s stock valued at $959,995,000 after purchasing an additional 49,887 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Lockheed Martin by 28.8% during the 1st quarter. Franklin Resources Inc. now owns 2,555,481 shares of the aerospace company’s stock worth $944,253,000 after purchasing an additional 571,986 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

Shares of LMT traded up $1.34 during trading hours on Wednesday, hitting $345.68. The company had a trading volume of 6,564 shares, compared to its average volume of 1,473,404. The business has a fifty day moving average of $364.77 and a 200-day moving average of $371.78. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.79. The firm has a market cap of $95.72 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 3.23 and a beta of 0.98. Lockheed Martin Co. has a 12 month low of $319.81 and a 12 month high of $399.60.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Sunday, July 25th. The aerospace company reported $6.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $6.53 by ($0.01). Lockheed Martin had a net margin of 10.69% and a return on equity of 123.35%. The company had revenue of $17.03 billion during the quarter, compared to the consensus estimate of $16.93 billion. During the same period in the prior year, the company earned $5.79 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Lockheed Martin Co. will post 23.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Wednesday, September 1st will be issued a dividend of $2.60 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $10.40 annualized dividend and a yield of 3.01%. Lockheed Martin’s payout ratio is currently 41.87%.

A number of brokerages recently weighed in on LMT. Jefferies Financial Group restated a “neutral” rating on shares of Lockheed Martin in a report on Friday, September 10th. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 27th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $370.20 target price (down from $394.00) on shares of Lockheed Martin in a research note on Tuesday, July 27th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $400.87.

Lockheed Martin Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

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

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