ARK Investment Management LLC decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,950 shares of the aerospace company’s stock after selling 4,159 shares during the period. ARK Investment Management LLC’s holdings in Lockheed Martin were worth $16,262,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of LMT. Capital World Investors boosted its holdings in shares of Lockheed Martin by 19.0% during the 1st quarter. Capital World Investors now owns 16,021,414 shares of the aerospace company’s stock worth $7,071,954,000 after buying an additional 2,558,881 shares during the period. GQG Partners LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth about $763,213,000. Vanguard Group Inc. boosted its holdings in shares of Lockheed Martin by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 22,579,851 shares of the aerospace company’s stock worth $9,966,746,000 after buying an additional 1,727,343 shares during the period. Invesco Ltd. boosted its holdings in shares of Lockheed Martin by 49.6% during the 1st quarter. Invesco Ltd. now owns 1,858,507 shares of the aerospace company’s stock worth $820,347,000 after buying an additional 615,798 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Lockheed Martin by 16.1% in the 4th quarter. Capital Research Global Investors now owns 3,288,398 shares of the aerospace company’s stock valued at $1,168,730,000 after purchasing an additional 456,524 shares during the period. Institutional investors own 75.50% of the company’s stock.
Insider Buying and Selling at Lockheed Martin
In other Lockheed Martin news, Director John Donovan purchased 632 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was purchased at an average cost of $396.16 per share, for a total transaction of $250,373.12. Following the transaction, the director now owns 1,200 shares in the company, valued at approximately $475,392. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Gregory M. Ulmer sold 6,929 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Donovan acquired 632 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were purchased at an average price of $396.16 per share, with a total value of $250,373.12. Following the completion of the transaction, the director now owns 1,200 shares of the company’s stock, valued at $475,392. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.
Lockheed Martin Price Performance
Lockheed Martin (NYSE:LMT – Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). The company had revenue of $15.45 billion for the quarter, compared to analyst estimates of $16.02 billion. Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. Lockheed Martin’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.13 earnings per share. Research analysts anticipate that Lockheed Martin Co. will post 26.8 EPS for the current fiscal year.
Lockheed Martin Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be given a $2.80 dividend. This represents a $11.20 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is currently 64.81%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on LMT. Morgan Stanley cut their price objective on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Royal Bank of Canada began coverage on shares of Lockheed Martin in a report on Monday, August 29th. They issued a “sector perform” rating and a $460.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating for the company in a report on Wednesday, July 20th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $448.92.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
- Get a free copy of the StockNews.com research report on Lockheed Martin (LMT)
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