Trust Co of Kansas Decreases Holdings in Lockheed Martin Co. (NYSE:LMT)

Trust Co of Kansas reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,821 shares of the aerospace company’s stock after selling 135 shares during the quarter. Lockheed Martin accounts for about 4.2% of Trust Co of Kansas’ investment portfolio, making the stock its 5th largest position. Trust Co of Kansas’ holdings in Lockheed Martin were worth $8,664,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Wulff Hansen & CO. increased its stake in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Van ECK Associates Corp increased its stake in Lockheed Martin by 1,075.2% in the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the period. Confluence Investment Management LLC purchased a new position in Lockheed Martin in the 1st quarter worth approximately $151,402,000. Capital Research Global Investors increased its stake in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the period. Finally, National Bank of Canada FI increased its stake in Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the 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 completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $608.27 on Wednesday. The stock has a 50-day simple moving average of $567.27 and a two-hundred day simple moving average of $501.20. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $611.59. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market capitalization of $145.95 billion, a PE ratio of 22.26, a P/E/G ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.73 earnings per share. Analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.17%. Lockheed Martin’s dividend payout ratio is 48.30%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of analyst reports. Barclays lifted their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. UBS Group lifted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $568.31.

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