Lockheed Martin Co. (NYSE:LMT) Position Raised by Mackenzie Financial Corp

Mackenzie Financial Corp raised its stake in Lockheed Martin Co. (NYSE:LMT) by 9.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 404,471 shares of the aerospace company’s stock after buying an additional 35,290 shares during the quarter. Mackenzie Financial Corp’s holdings in Lockheed Martin were worth $153,032,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of LMT. Ironwood Wealth Management LLC. raised its stake in shares of Lockheed Martin by 9.2% during the first quarter. Ironwood Wealth Management LLC. now owns 1,207 shares of the aerospace company’s stock valued at $446,000 after purchasing an additional 102 shares in the last quarter. IndexIQ Advisors LLC bought a new stake in shares of Lockheed Martin during the first quarter valued at about $2,938,000. Redhawk Wealth Advisors Inc. raised its stake in shares of Lockheed Martin by 5.3% during the first quarter. Redhawk Wealth Advisors Inc. now owns 1,703 shares of the aerospace company’s stock valued at $629,000 after purchasing an additional 86 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Lockheed Martin by 12.0% during the first quarter. Ninety One UK Ltd now owns 56,138 shares of the aerospace company’s stock valued at $20,743,000 after purchasing an additional 6,017 shares in the last quarter. Finally, Choate Investment Advisors raised its stake in shares of Lockheed Martin by 22.7% during the first quarter. Choate Investment Advisors now owns 940 shares of the aerospace company’s stock valued at $347,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 74.51% of the company’s stock.

Shares of LMT opened at $336.05 on Wednesday. The business’s 50-day moving average price is $360.75 and its 200 day moving average price is $371.85. The stock has a market capitalization of $93.06 billion, a P/E ratio of 13.17, a P/E/G ratio of 3.23 and a beta of 0.98. Lockheed Martin Co. has a 1-year low of $319.81 and a 1-year high of $396.99. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.79.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Sunday, July 25th. The aerospace company reported $6.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.53 by ($0.01). The company had revenue of $17.03 billion during the quarter, compared to analysts’ expectations of $16.93 billion. Lockheed Martin had a return on equity of 123.35% and a net margin of 10.69%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.79 EPS. On average, research analysts predict that Lockheed Martin Co. will post 23.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Wednesday, September 1st will be paid a $2.60 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $10.40 dividend on an annualized basis and a yield of 3.09%. Lockheed Martin’s dividend payout ratio is currently 41.87%.

A number of equities research analysts recently weighed in on LMT shares. Credit Suisse Group restated a “neutral” rating and set a $370.20 price objective (down from $394.00) on shares of Lockheed Martin in a research note on Tuesday, July 27th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Lockheed Martin in a report on Friday, September 10th. Finally, Wells Fargo & Company lifted their target price on Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 27th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $400.87.

Lockheed Martin Company Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business 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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