Hartford Financial Management Inc. Sells 42 Shares of Lockheed Martin Co. (NYSE:LMT)

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Hartford Financial Management Inc. trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 19.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 177 shares of the aerospace company’s stock after selling 42 shares during the quarter. Hartford Financial Management Inc.’s holdings in Lockheed Martin were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 valued at $69,000 after acquiring an additional 84 shares during the period. Cypress Capital Management LLC boosted its position in shares of Lockheed Martin by 9.4% in the first quarter. Cypress Capital Management LLC now owns 1,754 shares of the aerospace company’s stock valued at $526,000 after acquiring an additional 150 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Lockheed Martin by 44.6% in the second quarter. Carroll Financial Associates Inc. now owns 1,252 shares of the aerospace company’s stock valued at $455,000 after acquiring an additional 386 shares during the period. United Asset Strategies Inc. boosted its position in shares of Lockheed Martin by 1.3% in the first quarter. United Asset Strategies Inc. now owns 4,943 shares of the aerospace company’s stock valued at $1,484,000 after acquiring an additional 62 shares during the period. Finally, Independent Advisor Alliance boosted its position in shares of Lockheed Martin by 1.5% in the first quarter. Independent Advisor Alliance now owns 20,415 shares of the aerospace company’s stock valued at $6,128,000 after acquiring an additional 303 shares during the period. 78.55% of the stock is owned by institutional investors.

Lockheed Martin stock opened at $377.22 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36. The business’s fifty day moving average is $366.24. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $381.51. The firm has a market capitalization of $106.57 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 2.50 and a beta of 0.97.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $14.42 billion during the quarter, compared to analyst estimates of $14.17 billion. During the same period in the prior year, the company posted $4.31 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lockheed Martin Co. will post 21.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 yield of 2.33%. Lockheed Martin’s dividend payout ratio is currently 49.30%.

In other Lockheed Martin news, insider Kenneth R. Possenriede sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $363.85, for a total transaction of $727,700.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Maryanne Lavan sold 1,003 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total value of $366,596.50. Following the transaction, the senior vice president now owns 1,478 shares in the company, valued at approximately $540,209. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock valued at $8,292,527 over the last quarter. Corporate insiders own 0.35% of the company’s stock.

Several brokerages recently commented on LMT. Bank of America reaffirmed a “buy” rating and issued a $400.00 target price (up from $390.00) on shares of Lockheed Martin in a research report on Wednesday, April 24th. ValuEngine raised Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Robert W. Baird raised their target price on Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $366.43.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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