Lockheed Martin Co. (NYSE:LMT) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 8.6% in the second quarter, Holdings Channel.com reports. The fund owned 51,422 shares of the aerospace company’s stock after selling 4,815 shares during the period. Great Lakes Advisors LLC’s holdings in Lockheed Martin were worth $24,019,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. HTLF Bank boosted its position in shares of Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after buying an additional 20 shares in the last quarter. Goldstein Advisors LLC lifted its stake in Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after buying an additional 21 shares in the last quarter. Hudock Inc. grew its holdings in Lockheed Martin by 1.3% during the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after buying an additional 22 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its position in Lockheed Martin by 0.8% during the second quarter. Lester Murray Antman dba SimplyRich now owns 2,765 shares of the aerospace company’s stock worth $1,291,000 after buying an additional 22 shares in the last quarter. Finally, Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.3 %

NYSE:LMT traded down $1.96 during mid-day trading on Friday, hitting $566.63. The company had a trading volume of 976,688 shares, compared to its average volume of 1,069,765. The business has a fifty day simple moving average of $524.33 and a 200-day simple moving average of $478.58. The firm has a market capitalization of $135.96 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Announces Dividend

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

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

LMT has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday. Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Susquehanna lifted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $553.43.

About Lockheed Martin

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.