Lockheed Martin Corporation (NYSE:LMT) Shares Bought by Canal Insurance CO

Canal Insurance CO lifted its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,600 shares of the aerospace company's stock after purchasing an additional 5,000 shares during the period. Lockheed Martin makes up about 3.9% of Canal Insurance CO's holdings, making the stock its 7th biggest position. Canal Insurance CO's holdings in Lockheed Martin were worth $16,350,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Private Portfolio Partners LLC increased its position in Lockheed Martin by 4.8% during the 4th quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock worth $244,000 after buying an additional 23 shares during the period. Tealwood Asset Management Inc. boosted its position in shares of Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after acquiring an additional 23 shares during the period. Southland Equity Partners LLC grew its stake in shares of Lockheed Martin by 3.1% in the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after acquiring an additional 23 shares in the last quarter. Nvest Financial LLC increased its position in Lockheed Martin by 0.6% during the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company's stock worth $1,617,000 after acquiring an additional 23 shares during the period. Finally, Invenio Wealth Partners LLC increased its position in Lockheed Martin by 6.2% during the fourth quarter. Invenio Wealth Partners LLC now owns 414 shares of the aerospace company's stock worth $201,000 after acquiring an additional 24 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $0.69 during midday trading on Friday, reaching $458.59. The company's stock had a trading volume of 1,995,444 shares, compared to its average volume of 1,355,117. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The stock has a market cap of $107.45 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.60 and a beta of 0.29. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95. The business has a 50-day moving average price of $470.90 and a 200-day moving average price of $467.16.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. On average, sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.88%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Analyst Ratings Changes

LMT has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Jefferies Financial Group dropped their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Royal Bank Of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a research report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

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.