American National Bank trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,953 shares of the aerospace company’s stock after selling 133 shares during the period. American National Bank’s holdings in Lockheed Martin were worth $710,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Dimensional Fund Advisors LP raised its stake in shares of Lockheed Martin by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 680,087 shares of the aerospace company’s stock worth $178,074,000 after buying an additional 37,194 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 worth $894,874,000 after buying an additional 691,751 shares during the period. Founders Financial Securities LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth about $995,000. Hoylecohen LLC raised its stake in shares of Lockheed Martin by 35.1% in the fourth quarter. Hoylecohen LLC now owns 1,166 shares of the aerospace company’s stock worth $305,000 after buying an additional 303 shares during the period. Finally, Edge Capital Group LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth about $560,000. 78.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Lockheed Martin stock traded down $1.68 on Friday, reaching $368.64. The company had a trading volume of 366,728 shares, compared to its average volume of 1,139,955. The firm has a market capitalization of $104.58 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.47 and a beta of 0.96. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36. The firm’s 50-day simple moving average is $360.26. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $373.37.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) 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 analysts’ expectations of $14.17 billion. During the same quarter in the previous year, the business earned $4.31 EPS. Lockheed Martin’s revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that Lockheed Martin Co. will post 21.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, August 30th. Lockheed Martin’s payout ratio is currently 49.30%.
LMT has been the topic of several recent research reports. Credit Suisse Group raised their price objective on Canadian National Railway from $101.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America reissued a “buy” rating and set a $60.00 target price (up previously from $55.00) on shares of Western Digital in a research note on Wednesday, April 24th. Robert W. Baird decreased their target price on Waters from $211.00 to $209.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. UBS Group lifted their target price on Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Barclays reissued a “buy” rating on shares of Netflix in a research note on Thursday, May 16th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus 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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