Bridges Investment Management Inc. Increases Holdings in Lockheed Martin Co. (NYSE:LMT)

Bridges Investment Management Inc. increased its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 190.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,070 shares of the aerospace company's stock after acquiring an additional 25,610 shares during the quarter. Bridges Investment Management Inc.'s holdings in Lockheed Martin were worth $18,250,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in LMT. Dimensional Fund Advisors LP boosted its stake in shares of Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company's stock worth $546,144,000 after acquiring an additional 119,052 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company's stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company's stock worth $433,621,000 after buying an additional 218,506 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Lockheed Martin by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 833,264 shares of the aerospace company's stock valued at $389,218,000 after buying an additional 2,942 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Lockheed Martin by 3.3% in the second quarter. LSV Asset Management now owns 505,427 shares of the aerospace company's stock worth $236,085,000 after buying an additional 16,280 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Melius upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. Barclays lifted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th. Wells Fargo & Company upped their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a report on Wednesday, July 24th. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Finally, Melius Research raised shares of Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $553.43.

Lockheed Martin Trading Up 1.2 %

Shares of NYSE LMT traded up $6.74 during trading on Friday, reaching $571.92. The stock had a trading volume of 3,564,048 shares, compared to its average volume of 1,068,870. 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 has a market cap of $137.23 billion, a P/E ratio of 20.87, a PEG ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73. The business's 50-day moving average price is $543.44 and its 200-day moving average price is $487.37.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the firm earned $6.73 earnings per share. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin's dividend payout ratio is currently 46.10%.

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.