Summit Trail Advisors LLC Purchases 13,348 Shares of Lockheed Martin Co. (NYSE:LMT)

Summit Trail Advisors LLC boosted its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 184.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,580 shares of the aerospace company's stock after purchasing an additional 13,348 shares during the quarter. Summit Trail Advisors LLC's holdings in Lockheed Martin were worth $9,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. HTLF Bank increased its position in shares of Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company's stock valued at $264,000 after purchasing an additional 20 shares during the last quarter. tru Independence LLC raised its stake in shares of Lockheed Martin by 2.5% during the second quarter. tru Independence LLC now owns 827 shares of the aerospace company's stock worth $386,000 after acquiring an additional 20 shares in the last quarter. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Goldstein Advisors LLC boosted its stake in shares of Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company's stock valued at $809,000 after purchasing an additional 21 shares in the last quarter. Finally, Hudock Inc. grew its holdings in shares of Lockheed Martin by 1.3% during the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company's stock valued at $801,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on LMT. TD Cowen raised shares of Lockheed Martin from a "hold" rating to a "buy" rating and boosted their price target for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. UBS Group increased their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. Melius Research raised Lockheed Martin to a "strong-buy" rating in a research note on Tuesday, September 3rd. Royal Bank of Canada upgraded Lockheed Martin from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Finally, Melius upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $553.43.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated 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 of the company's stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company's stock.

Lockheed Martin Trading Up 1.2 %

Shares of LMT traded up $6.74 during trading hours on Friday, reaching $571.92. 3,794,353 shares of the company traded hands, compared to its average volume of 1,068,870. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73. The company has a market capitalization of $137.23 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company's fifty day moving average price is $545.61 and its two-hundred day moving average price is $488.74. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted 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 analysts' expectations of $17.05 billion. During the same period in the previous year, the firm posted $6.73 EPS. The business's revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued 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 of this dividend is Tuesday, September 3rd. Lockheed Martin's dividend payout ratio (DPR) is presently 46.10%.

About Lockheed Martin

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.