Verity Asset Management Inc. decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 25.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 641 shares of the aerospace company’s stock after selling 214 shares during the period. Verity Asset Management Inc.’s holdings in Lockheed Martin were worth $209,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in LMT. Thoroughbred Financial Services LLC raised its stake in Lockheed Martin by 38,923.0% in the second quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock valued at $134,122,000 after buying an additional 1,337,784 shares during the period. Geode Capital Management LLC raised its stake in Lockheed Martin by 25.3% in the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after buying an additional 691,751 shares during the period. Waverton Investment Management Ltd raised its stake in Lockheed Martin by 159.0% in the second quarter. Waverton Investment Management Ltd now owns 235,976 shares of the aerospace company’s stock valued at $85,787,000 after buying an additional 144,869 shares during the period. Rothschild & Co. Asset Management US Inc. bought a new stake in Lockheed Martin in the second quarter valued at approximately $32,316,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Lockheed Martin by 76,921.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 53,915 shares of the aerospace company’s stock valued at $19,600,000 after buying an additional 53,845 shares during the period. Hedge funds and other institutional investors own 78.70% of the company’s stock.
In other Lockheed Martin news, Chairman Marillyn A. Hewson sold 19,500 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total transaction of $7,198,230.00. Following the transaction, the chairman now owns 46,534 shares in the company, valued at approximately $17,177,560.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kenneth R. Possenriede sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $363.85, for a total value of $727,700.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,503 shares of company stock worth $8,292,527. 0.35% of the stock is owned by corporate insiders.
Shares of NYSE LMT traded down $8.99 during trading hours on Friday, reaching $376.89. 1,101,444 shares of the stock were exchanged, compared to its average volume of 975,135. The firm has a market capitalization of $108.97 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 2.56 and a beta of 0.97. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $386.93. The stock’s fifty day simple moving average is $369.12 and its 200 day simple moving average is $334.80.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.26. The company had revenue of $14.42 billion for the quarter, compared to analyst estimates of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $4.31 earnings per share. Research analysts predict that Lockheed Martin Co. will post 21.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.33%. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.
Several analysts have issued reports on LMT shares. DZ Bank restated a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. Credit Suisse Group upped their price objective on Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Barclays upped their price objective on Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley upped their price objective on Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $367.86.
Lockheed Martin Company 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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