Edge Capital Group LLC Acquires 1,739 Shares of Lockheed Martin Co. (NYSE:LMT)

Edge Capital Group LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,469 shares of the aerospace company's stock after purchasing an additional 1,739 shares during the quarter. Edge Capital Group LLC's holdings in Lockheed Martin were worth $5,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of LMT. Sachetta LLC lifted its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its position in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company's stock worth $29,000 after buying an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin in the first quarter worth about $30,000. Stephens Consulting LLC lifted its position in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock worth $31,000 after buying an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Lockheed Martin in the second quarter worth about $35,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LMT shares. Barclays boosted their price target 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. Melius raised Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. Morgan Stanley boosted their price objective 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. TD Cowen raised Lockheed Martin from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of "Moderate Buy" and an average target price of $553.43.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company's stock.

Lockheed Martin Stock Performance

Lockheed Martin stock traded up $6.74 during trading hours on Friday, hitting $571.92. The stock had a trading volume of 3,794,353 shares, compared to its average volume of 1,068,870. The company has a 50-day moving average of $545.61 and a two-hundred day moving average of $489.13. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market cap of $137.23 billion, a PE ratio of 20.93, a price-to-earnings-growth 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.

Lockheed Martin (NYSE:LMT - Get 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 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 company posted $6.73 EPS. The company's revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate 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 paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.20%. Lockheed Martin's dividend payout ratio is currently 46.10%.

Lockheed Martin 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.