LMR Partners LLP cut its position in shares of Lockheed Martin Corp. (NYSE:LMT) by 22.8% during the second quarter, Holdings Channel reports. The firm owned 24,279 shares of the company’s stock after selling 7,183 shares during the period. Lockheed Martin Corp. accounts for approximately 0.9% of LMR Partners LLP’s investment portfolio, making the stock its 14th largest position. LMR Partners LLP’s holdings in Lockheed Martin Corp. were worth $6,025,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of LMT. Gerber Kawasaki Wealth & Investment Management boosted its stake in Lockheed Martin Corp. by 14.4% in the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 30,396 shares of the company’s stock worth $6,732,000 after buying an additional 3,834 shares during the period. WASHINGTON TRUST Co boosted its position in Lockheed Martin Corp. by 19.0% in the first quarter. WASHINGTON TRUST Co now owns 16,588 shares of the company’s stock valued at $3,675,000 after buying an additional 2,644 shares during the last quarter. MCF Advisors LLC boosted its position in Lockheed Martin Corp. by 0.6% in the first quarter. MCF Advisors LLC now owns 1,130 shares of the company’s stock valued at $250,000 after buying an additional 7 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its position in Lockheed Martin Corp. by 24.6% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 4,811 shares of the company’s stock valued at $1,065,000 after buying an additional 950 shares during the last quarter. Finally, Lakeview Capital Partners LLC boosted its position in Lockheed Martin Corp. by 31.2% in the first quarter. Lakeview Capital Partners LLC now owns 6,285 shares of the company’s stock valued at $1,392,000 after buying an additional 1,495 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded down 0.79% during midday trading on Thursday, reaching $234.72. The company’s stock had a trading volume of 1,899,766 shares. The company has a market capitalization of $71.10 billion, a P/E ratio of 19.55 and a beta of 0.59. Lockheed Martin Corp. has a 12-month low of $200.47 and a 12-month high of $266.93. The company’s 50-day moving average price is $243.69 and its 200 day moving average price is $241.62.
Lockheed Martin Corp. (NYSE:LMT) last announced its earnings results on Tuesday, July 19th. The company reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.39. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.56 billion. Lockheed Martin Corp. had a return on equity of 119.66% and a net margin of 7.37%. During the same period in the prior year, the company earned $2.94 EPS. On average, equities research analysts forecast that Lockheed Martin Corp. will post $11.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 1st will be paid a $1.82 dividend. This is a positive change from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. This represents a $7.28 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Tuesday, November 29th. Lockheed Martin Corp.’s dividend payout ratio is currently 56.51%.
LMT has been the topic of several recent research reports. Barclays PLC reiterated an “underweight” rating and set a $245.00 price objective (down previously from $250.00) on shares of Lockheed Martin Corp. in a research report on Monday. Zacks Investment Research cut Lockheed Martin Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Citigroup Inc. reiterated a “buy” rating and set a $284.00 price objective (up previously from $239.00) on shares of Lockheed Martin Corp. in a research report on Tuesday, September 6th. Vetr cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price objective on the stock. in a research report on Monday, July 4th. Finally, Argus reiterated a “buy” rating and set a $290.00 price objective on shares of Lockheed Martin Corp. in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Lockheed Martin Corp. currently has a consensus rating of “Hold” and an average target price of $259.77.
In other news, insider Orlando D. Carvalho sold 12,700 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $254.78, for a total transaction of $3,235,706.00. Following the transaction, the insider now directly owns 29,120 shares in the company, valued at approximately $7,419,193.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sondra L. Barbour sold 66,460 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total value of $16,996,480.40. Following the transaction, the insider now owns 31,200 shares in the company, valued at $7,979,088. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
About Lockheed Martin Corp.
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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