Argent Trust Co boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 71.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,345 shares of the aerospace company’s stock after purchasing an additional 3,886 shares during the quarter. Argent Trust Co’s holdings in Lockheed Martin were worth $2,761,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Silvant Capital Management LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at about $114,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Lockheed Martin during the 1st quarter valued at about $116,000. FTB Advisors Inc. lifted its stake in Lockheed Martin by 142.6% during 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. Fort L.P. bought a new position in Lockheed Martin during the 2nd quarter valued at about $116,000. Finally, Trilogy Capital Inc. bought a new position in Lockheed Martin during the 1st quarter valued at about $134,000. 78.17% of the stock is currently owned by institutional investors.
In other news, Chairman Marillyn A. Hewson sold 25,000 shares of the stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $323.68, for a total value of $8,092,000.00. Following the transaction, the chairman now owns 90,625 shares in the company, valued at approximately $29,333,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maryanne Lavan sold 7,250 shares of the stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total transaction of $2,346,390.00. Following the completion of the transaction, the senior vice president now owns 9,869 shares in the company, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.
Several research firms have issued reports on LMT. Sanford C. Bernstein upped their target price on shares of Lockheed Martin from $349.00 to $356.00 and gave the company a “market perform” rating in a research note on Wednesday, July 25th. Berenberg Bank upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. ValuEngine cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Credit Suisse Group upped their target price on shares of Lockheed Martin from $355.00 to $340.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Finally, Stifel Nicolaus lowered their target price on shares of Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Lockheed Martin has a consensus rating of “Buy” and an average target price of $372.02.
Shares of NYSE:LMT opened at $335.80 on Monday. Lockheed Martin Co. has a twelve month low of $291.52 and a twelve month high of $363.00. The company has a current ratio of 1.19, a quick ratio of 0.97 and a debt-to-equity ratio of 28.14. The company has a market capitalization of $92.63 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 2.57 and a beta of 0.72.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.92 by $0.39. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The firm had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.72 billion. During the same quarter in the prior year, the business earned $3.23 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. analysts expect that Lockheed Martin Co. will post 17.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is presently 60.02%.
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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