Zurich Insurance Group Ltd FI Increases Stake in Lockheed Martin Co. (NYSE:LMT)

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Zurich Insurance Group Ltd FI lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 56,834 shares of the aerospace company’s stock after acquiring an additional 2,826 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Lockheed Martin were worth $20,661,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Lockheed Martin by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,642,359 shares of the aerospace company’s stock worth $7,867,863,000 after acquiring an additional 111,239 shares during the period. Northern Trust Corp raised its holdings in Lockheed Martin by 1.3% in the second quarter. Northern Trust Corp now owns 3,153,040 shares of the aerospace company’s stock valued at $1,146,256,000 after buying an additional 41,269 shares during the period. Invesco Ltd. raised its holdings in Lockheed Martin by 360.8% in the second quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock valued at $950,739,000 after buying an additional 2,047,707 shares during the period. Bank of New York Mellon Corp raised its holdings in Lockheed Martin by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,981,732 shares of the aerospace company’s stock valued at $720,440,000 after buying an additional 9,767 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,940,513 shares of the aerospace company’s stock valued at $705,455,000 after buying an additional 72,256 shares during the period. Institutional investors and hedge funds own 78.33% of the company’s stock.

In other news, SVP Maryanne Lavan sold 1,003 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the sale, the senior vice president now owns 1,478 shares of the company’s stock, valued at $540,209. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth R. Possenriede sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $363.85, for a total transaction of $727,700.00. The disclosure for this sale can be found here. Insiders sold 22,503 shares of company stock valued at $8,292,527 in the last ninety days. 0.35% of the stock is owned by corporate insiders.

NYSE:LMT traded down $2.96 during trading hours on Friday, hitting $390.47. The stock had a trading volume of 37,021 shares, compared to its average volume of 916,989. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36. Lockheed Martin Co. has a 1-year low of $241.18 and a 1-year high of $399.96. The business has a 50 day simple moving average of $379.18 and a two-hundred day simple moving average of $345.25. The company has a market cap of $111.40 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The company had revenue of $14.42 billion during the quarter, compared to the consensus estimate of $14.17 billion. During the same quarter last year, the company earned $4.31 earnings per share. Lockheed Martin’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts expect that Lockheed Martin Co. will post 21.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, August 30th. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.

Several research analysts recently commented on LMT shares. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. DZ Bank restated a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. UBS Group raised their price target on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Credit Suisse Group raised their price target on shares of Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley raised their price target on shares of Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $367.86.

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. It operates through four 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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