Ensign Peak Advisors Inc Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Ensign Peak Advisors Inc lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 151,749 shares of the aerospace company’s stock after selling 32,491 shares during the quarter. Ensign Peak Advisors Inc owned 0.06% of Lockheed Martin worth $70,882,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LMT. GAMMA Investing LLC increased its holdings in Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares during the period. Morningstar Investment Services LLC boosted its holdings in shares of Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after acquiring an additional 73,774 shares during the last quarter. Brevan Howard Capital Management LP increased its stake in shares of Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after acquiring an additional 5,736 shares during the period. New Mexico Educational Retirement Board raised its holdings in shares of Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares during the last quarter. Finally, American National Bank lifted its position in Lockheed Martin by 26.8% during the first quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock valued at $16,638,000 after purchasing an additional 7,731 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s 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 transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by insiders.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $571.92 on Friday. 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 business has a 50 day simple moving average of $545.61 and a two-hundred day simple moving average of $488.74. The stock has a market capitalization of $137.23 billion, a P/E ratio of 20.93, a PEG ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share 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 company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the firm posted $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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 paid a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.20%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LMT. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Morgan Stanley lifted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Barclays lifted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $553.43.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.