Argent Trust Co Cuts Holdings in Lockheed Martin Co. (NYSE:LMT)

Argent Trust Co lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,433 shares of the aerospace company’s stock after selling 303 shares during the quarter. Lockheed Martin accounts for about 0.8% of Argent Trust Co’s investment portfolio, making the stock its 28th biggest holding. Argent Trust Co’s holdings in Lockheed Martin were worth $17,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. HTLF Bank boosted its position in shares of Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after acquiring an additional 20 shares during the last quarter. tru Independence LLC lifted its position in Lockheed Martin by 2.5% during the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares during the last quarter. Sachetta LLC lifted its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Goldstein Advisors LLC grew its stake in shares of Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after buying an additional 21 shares in the last quarter. Finally, Hudock Inc. increased its holdings in shares of Lockheed Martin by 1.3% in the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after buying an additional 22 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $567.07 on Wednesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a market cap of $136.06 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The firm has a 50-day moving average of $539.25 and a two-hundred day moving average of $486.27. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the business earned $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Analyst Ratings Changes

LMT has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, UBS Group increased their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $553.43.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

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.