Adirondack Trust Co. Sells 37 Shares of Lockheed Martin Co. (NYSE:LMT)

Adirondack Trust Co. trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,954 shares of the aerospace company’s stock after selling 37 shares during the quarter. Lockheed Martin comprises about 1.3% of Adirondack Trust Co.’s holdings, making the stock its 19th biggest position. Adirondack Trust Co.’s holdings in Lockheed Martin were worth $3,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wulff Hansen & CO. boosted its holdings in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Lockheed Martin by 1,075.2% during the first 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 bought a new position in shares of Lockheed Martin in the 1st quarter worth $151,402,000. 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 worth $433,621,000 after buying an additional 218,506 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Lockheed Martin by 219.3% in the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after buying an additional 218,466 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. UBS Group increased their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $568.31.

Lockheed Martin Stock Down 0.5 %

Shares of NYSE LMT opened at $605.12 on Thursday. The business has a 50-day simple moving average of $568.68 and a two-hundred day simple moving average of $502.34. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $611.59. The company has a market cap of $145.19 billion, a P/E ratio of 22.14, a P/E/G ratio of 4.66 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Lockheed Martin 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.