Lockheed Martin Co. (NYSE:LMT) Stock Holdings Reduced by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 16.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,377 shares of the aerospace company’s stock after selling 1,593 shares during the quarter. 1832 Asset Management L.P.’s holdings in Lockheed Martin were worth $3,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in LMT. Dimensional Fund Advisors LP increased its stake in shares of Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after purchasing an additional 119,052 shares during the last quarter. Wulff Hansen & CO. increased its position in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Capital Research Global Investors raised its holdings in Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after buying an additional 218,506 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Lockheed Martin by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 833,264 shares of the aerospace company’s stock worth $389,218,000 after buying an additional 2,942 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Lockheed Martin by 3.3% during the 2nd quarter. LSV Asset Management now owns 505,427 shares of the aerospace company’s stock worth $236,085,000 after acquiring an additional 16,280 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LMT. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays boosted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. Finally, TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.3 %

LMT stock opened at $578.63 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market cap of $138.84 billion, a P/E ratio of 21.17, a P/E/G ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $581.75. The business’s 50 day moving average is $550.14 and its 200-day moving average is $491.21.

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

Lockheed Martin Dividend Announcement

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 given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.18%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

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.