Chesapeake Capital Corp IL Purchases Shares of 2,320 Lockheed Martin Co. (NYSE:LMT)

Chesapeake Capital Corp IL acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,320 shares of the aerospace company’s stock, valued at approximately $1,084,000. Lockheed Martin makes up about 1.4% of Chesapeake Capital Corp IL’s portfolio, making the stock its 10th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. First Pacific Financial acquired a new position in Lockheed Martin during the first quarter worth $25,000. Sachetta LLC increased its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its holdings in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC grew its holdings in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 1.8 %

Shares of LMT stock opened at $576.55 on Tuesday. The stock has a market cap of $137.43 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock has a 50 day simple moving average of $526.54 and a 200 day simple moving average of $480.36. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $6.73 EPS. On average, research analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a yield of 2.19%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. UBS Group increased their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Susquehanna lifted their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Insider Buying and Selling at Lockheed Martin

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

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.