Trinity Legacy Partners LLC Purchases Shares of 5,745 Lockheed Martin Co. (NYSE:LMT)

Trinity Legacy Partners LLC acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,745 shares of the aerospace company's stock, valued at approximately $2,683,000.

A number of other hedge funds have also made changes to their positions in the business. HTLF Bank boosted its stake in Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company's stock valued at $264,000 after acquiring an additional 20 shares in the last quarter. tru Independence LLC grew its stake in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company's stock worth $386,000 after buying an additional 20 shares during the last quarter. Sachetta LLC increased its position in Lockheed Martin by 50.0% during 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 period. Goldstein Advisors LLC lifted its stake in Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company's stock valued at $809,000 after buying an additional 21 shares during the last quarter. Finally, Hudock Inc. boosted its holdings in shares of Lockheed Martin by 1.3% in the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company's stock valued at $801,000 after acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Insider Transactions at Lockheed Martin

In related 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 owns 8,877 shares of the company's stock, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on LMT shares. Susquehanna upped their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a "positive" rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 24th. Morgan Stanley upped their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. Finally, UBS Group lifted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus target price of $553.43.

Lockheed Martin Price Performance

Shares of LMT stock traded down $0.68 during midday trading on Wednesday, reaching $577.95. 844,484 shares of the company traded hands, compared to its average volume of 1,064,615. The firm has a market cap of $137.76 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm's 50 day simple moving average is $550.14 and its two-hundred day simple moving average is $491.21. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $583.75.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.18%. Lockheed Martin's dividend payout ratio is presently 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.