Todays Report: The Quantitative Systematic Strategies LLC Increases Position in Lockheed Martin Corp. (LMT)

The Quantitative Systematic Strategies LLC Increases Position in Lockheed Martin Corp. (LMT)

Quantitative Systematic Strategies LLC boosted its position in Lockheed Martin Corp. (NYSE:LMT) by 12.5% during the second quarter, Holdings Channel reports. The firm owned 3,109 shares of the company’s stock after buying an additional 345 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Lockheed Martin Corp. were worth $766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Lockheed Martin Corp. by 5.9% in the first quarter. Wellington Management Group LLP now owns 10,282,849 shares of the company’s stock worth $2,277,650,000 after buying an additional 571,953 shares during the period. Geode Capital Management LLC raised its stake in shares of Lockheed Martin Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 2,276,461 shares of the company’s stock worth $503,268,000 after buying an additional 125,321 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Lockheed Martin Corp. by 22.0% in the second quarter. Artemis Investment Management LLP now owns 1,917,270 shares of the company’s stock worth $476,046,000 after buying an additional 345,305 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Lockheed Martin Corp. by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 447,478 shares of the company’s stock worth $111,051,000 after buying an additional 1,953 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Lockheed Martin Corp. during the second quarter worth approximately $106,461,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Corp. (NYSE:LMT) traded up 0.44% during midday trading on Wednesday, hitting $232.86. The company’s stock had a trading volume of 548,900 shares. The company’s 50 day moving average price is $241.23 and its 200 day moving average price is $242.00. Lockheed Martin Corp. has a 12 month low of $200.47 and a 12 month high of $266.93. The firm has a market cap of $70.53 billion, a P/E ratio of 19.39 and a beta of 0.59.

Lockheed Martin Corp. (NYSE:LMT) last posted its earnings results on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.39. Lockheed Martin Corp. had a net margin of 7.37% and a return on equity of 119.66%. The business earned $12.90 billion during the quarter, compared to the consensus estimate of $12.56 billion. During the same quarter in the previous year, the firm posted $2.94 EPS. Analysts expect that Lockheed Martin Corp. will post $11.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 1st will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Tuesday, November 29th. This is an increase from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. Lockheed Martin Corp.’s payout ratio is 56.51%.

A number of analysts have commented on LMT shares. Barclays PLC reissued an “underweight” rating and set a $245.00 price objective (down from $250.00) on shares of Lockheed Martin Corp. in a report on Monday, October 3rd. Zacks Investment Research lowered Lockheed Martin Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Citigroup Inc. reissued a “buy” rating and set a $284.00 price objective (up from $239.00) on shares of Lockheed Martin Corp. in a report on Tuesday, September 6th. Vetr lowered Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price objective for the company. in a report on Monday, July 4th. Finally, JPMorgan Chase & Co. started coverage on Lockheed Martin Corp. in a report on Thursday, August 25th. They set a “neutral” rating and a $284.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $259.77.

In other Lockheed Martin Corp. news, insider Sondra L. Barbour sold 66,460 shares of Lockheed Martin Corp. stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total value of $16,996,480.40. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $7,979,088. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Orlando D. Carvalho sold 12,700 shares of Lockheed Martin Corp. stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $254.78, for a total transaction of $3,235,706.00. Following the completion of the sale, the insider now directly owns 29,120 shares of the company’s stock, valued at approximately $7,419,193.60. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

About Lockheed Martin Corp.

Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.

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