TD Asset Management Inc. trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 503,684 shares of the aerospace company’s stock after selling 8,351 shares during the quarter. TD Asset Management Inc. owned approximately 0.18% of Lockheed Martin worth $183,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of LMT. Keybank National Association OH lifted its holdings in Lockheed Martin by 2.7% in the 2nd quarter. Keybank National Association OH now owns 15,717 shares of the aerospace company’s stock worth $5,714,000 after buying an additional 408 shares during the period. Pendal Group Ltd lifted its holdings in Lockheed Martin by 229.5% in the 2nd quarter. Pendal Group Ltd now owns 9,025 shares of the aerospace company’s stock worth $3,281,000 after buying an additional 6,286 shares during the period. Westpac Banking Corp lifted its holdings in Lockheed Martin by 7.5% in the 2nd quarter. Westpac Banking Corp now owns 30,489 shares of the aerospace company’s stock worth $11,084,000 after buying an additional 2,129 shares during the period. Charter Trust Co. lifted its holdings in Lockheed Martin by 2.5% in the 2nd quarter. Charter Trust Co. now owns 4,862 shares of the aerospace company’s stock worth $1,768,000 after buying an additional 117 shares during the period. Finally, Hartwell J M Limited Partnership purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $275,000. Institutional investors and hedge funds own 78.55% of the company’s stock.
In related news, SVP Maryanne Lavan sold 1,003 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the transaction, the senior vice president now owns 1,478 shares of the company’s stock, valued at approximately $540,209. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kenneth R. Possenriede sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 ninety days, insiders have sold 22,503 shares of company stock valued at $8,292,527. 0.35% of the stock is owned by corporate insiders.
Shares of LMT traded up $0.57 on Tuesday, reaching $377.57. The stock had a trading volume of 45,772 shares, compared to its average volume of 1,237,155. The firm has a market capitalization of $106.57 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.50 and a beta of 0.97. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36. The company’s 50-day moving average price is $365.90. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $379.36.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The company had revenue of $14.42 billion during the quarter, compared to analyst estimates of $14.17 billion. During the same quarter last year, the company earned $4.31 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Lockheed Martin Co. will post 21.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, August 30th. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.
Several equities research analysts have weighed in on the company. Cowen reiterated a “buy” rating and issued a $360.00 price objective on shares of Lockheed Martin in a report on Wednesday, April 24th. UBS Group increased their price objective on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, Barclays increased their price objective on Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $366.43.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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