Waddell & Reed Financial Inc. Has $277.12 Million Stake in Lockheed Martin Co. (LMT)
Waddell & Reed Financial Inc. cut its stake in Lockheed Martin Co. (NYSE:LMT) by 32.2% during the second quarter, HoldingsChannel.com reports. The fund owned 938,011 shares of the aerospace company’s stock after selling 444,945 shares during the quarter. Waddell & Reed Financial Inc.’s holdings in Lockheed Martin were worth $277,117,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in LMT. FTB Advisors Inc. increased its holdings in shares of Lockheed Martin by 142.6% in the 2nd quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 211 shares during the period. Silvant Capital Management LLC purchased a new position in Lockheed Martin during the 1st quarter worth $114,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in Lockheed Martin during the 1st quarter worth $116,000. Fort L.P. purchased a new position in Lockheed Martin during the 2nd quarter worth $116,000. Finally, FNY Investment Advisers LLC purchased a new position in Lockheed Martin during the 2nd quarter worth $117,000. Institutional investors and hedge funds own 78.17% of the company’s stock.
In other Lockheed Martin news, Chairman Marillyn A. Hewson sold 25,000 shares of Lockheed Martin stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $323.68, for a total transaction of $8,092,000.00. Following the completion of the sale, the chairman now owns 90,625 shares of the company’s stock, valued at approximately $29,333,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maryanne Lavan sold 7,250 shares of Lockheed Martin stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total value of $2,346,390.00. Following the sale, the senior vice president now directly owns 9,869 shares of the company’s stock, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 24th. The aerospace company reported $4.31 EPS for the quarter, topping the Zacks’ consensus estimate of $3.92 by $0.39. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The company had revenue of $13.40 billion during the quarter, compared to analysts’ expectations of $12.72 billion. During the same quarter in the previous year, the firm posted $3.23 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. equities research analysts expect that Lockheed Martin Co. will post 17.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 2.46%. Lockheed Martin’s dividend payout ratio is currently 60.02%.
LMT has been the topic of several research analyst reports. Credit Suisse Group boosted their target price on Lockheed Martin from $355.00 to $340.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Zacks Investment Research downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Bank of America boosted their target price on Lockheed Martin from $400.00 to $412.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. UBS Group initiated coverage on Lockheed Martin in a research note on Wednesday, August 15th. They set a “buy” rating and a $400.00 target price on the stock. Finally, Berenberg Bank upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $372.02.
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 (MFC), Rotary and Mission Systems (RMS), and Space.
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