Toronto Dominion Bank trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 8.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,726 shares of the aerospace company’s stock after selling 14,959 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Lockheed Martin worth $59,868,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Haverford Trust Co. raised its position in Lockheed Martin by 6.4% in the second quarter. Haverford Trust Co. now owns 33,538 shares of the aerospace company’s stock worth $12,192,000 after acquiring an additional 2,011 shares in the last quarter. Lucia Wealth Services LLC boosted its position in shares of Lockheed Martin by 78.5% in the second quarter. Lucia Wealth Services LLC now owns 191 shares of the aerospace company’s stock worth $69,000 after buying an additional 84 shares during the period. Cypress Capital Management LLC grew its holdings in shares of Lockheed Martin by 9.4% during the first quarter. Cypress Capital Management LLC now owns 1,754 shares of the aerospace company’s stock valued at $526,000 after buying an additional 150 shares in the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of Lockheed Martin by 44.6% during the second quarter. Carroll Financial Associates Inc. now owns 1,252 shares of the aerospace company’s stock valued at $455,000 after buying an additional 386 shares in the last quarter. Finally, Cibc World Markets Corp raised its position in Lockheed Martin by 67.1% during the second quarter. Cibc World Markets Corp now owns 69,474 shares of the aerospace company’s stock valued at $25,257,000 after buying an additional 27,901 shares during the period. 78.94% of the stock is owned by hedge funds and other institutional investors.
In related news, Director James D. Taiclet, Jr. bought 1,354 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $376.32 per share, with a total value of $509,537.28. Following the completion of the transaction, the director now directly owns 1,354 shares of the company’s stock, valued at $509,537.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Marillyn A. Hewson sold 19,500 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total value of $7,198,230.00. Following the sale, the chairman now directly owns 46,534 shares of the company’s stock, valued at approximately $17,177,560.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,503 shares of company stock worth $8,292,527. 0.35% of the stock is currently owned by insiders.
A number of research firms have recently issued reports on LMT. Credit Suisse Group increased their price target on shares of Lockheed Martin from $369.00 to $379.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Barclays upped their target price on Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Morgan Stanley raised their price target on Lockheed Martin from $356.00 to $376.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Finally, UBS Group boosted their price target on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $367.86.
NYSE:LMT traded up $1.02 during trading hours on Wednesday, reaching $382.34. The company’s stock had a trading volume of 34,893 shares, compared to its average volume of 881,661. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.20 and a quick ratio of 0.96. The company has a market cap of $107.68 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 2.52 and a beta of 0.95. Lockheed Martin Co. has a one year low of $241.18 and a one year high of $393.43. The business’s 50-day moving average is $375.60 and its 200-day moving average is $341.97.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $14.17 billion. During the same period last year, the company earned $4.31 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts predict that Lockheed Martin Co. will post 21.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 annualized dividend and a dividend yield of 2.30%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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