Canandaigua National Bank & Trust Co. lowered its stake in shares of Lockheed Martin Corp. (NYSE:LMT) by 6.3% during the second quarter, Holdings Channel reports. The firm owned 12,953 shares of the company’s stock after selling 864 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Lockheed Martin Corp. were worth $3,215,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. AMP Capital Investors Ltd raised its stake in Lockheed Martin Corp. by 4.3% in the first quarter. AMP Capital Investors Ltd now owns 150,260 shares of the company’s stock worth $33,500,000 after buying an additional 6,258 shares during the last quarter. LPL Financial LLC raised its stake in Lockheed Martin Corp. by 11.9% in the first quarter. LPL Financial LLC now owns 373,404 shares of the company’s stock worth $84,247,000 after buying an additional 39,736 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Lockheed Martin Corp. by 1.1% in the second quarter. State of Alaska Department of Revenue now owns 20,920 shares of the company’s stock worth $5,191,000 after buying an additional 230 shares during the last quarter. Renaissance Technologies LLC raised its stake in Lockheed Martin Corp. by 2,490.8% in the first quarter. Renaissance Technologies LLC now owns 336,800 shares of the company’s stock worth $74,601,000 after buying an additional 323,800 shares during the last quarter. Finally, Parasol Investment Management LLC raised its stake in Lockheed Martin Corp. by 9.5% in the second quarter. Parasol Investment Management LLC now owns 1,152 shares of the company’s stock worth $286,000 after buying an additional 100 shares during the last quarter. 81.20% of the stock is currently owned by institutional investors.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.32% during mid-day trading on Friday, hitting $245.84. 858,776 shares of the stock traded hands. The firm has a market cap of $74.47 billion, a P/E ratio of 20.47 and a beta of 0.58. Lockheed Martin Corp. has a 52-week low of $199.01 and a 52-week high of $266.93. The firm’s 50-day moving average is $248.23 and its 200 day moving average is $240.07.
Lockheed Martin Corp. (NYSE:LMT) last issued its earnings results on Tuesday, July 19th. The company reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.39. Lockheed Martin Corp. had a net margin of 7.37% and a return on equity of 119.66%. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.56 billion. During the same quarter last year, the business earned $2.94 earnings per share. Equities analysts predict that Lockheed Martin Corp. will post $11.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be issued a $1.82 dividend. This is a boost from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. The ex-dividend date is Tuesday, November 29th. This represents a $7.28 annualized dividend and a dividend yield of 2.96%. Lockheed Martin Corp.’s dividend payout ratio (DPR) is currently 56.51%.
A number of research firms have weighed in on LMT. Zacks Investment Research lowered shares of Lockheed Martin Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Co. raised shares of Lockheed Martin Corp. from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $199.01 to $277.50 in a report on Monday. Citigroup Inc. reissued a “buy” rating and set a $284.00 target price (up from $239.00) on shares of Lockheed Martin Corp. in a report on Tuesday, September 6th. Jefferies Group reissued a “neutral” rating on shares of Lockheed Martin Corp. in a report on Tuesday, August 30th. Finally, Vetr raised shares of Lockheed Martin Corp. from a “buy” rating to a “strong-buy” rating and set a $275.75 target price on the stock in a report on Monday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lockheed Martin Corp. presently has an average rating of “Hold” and a consensus target price of $257.32.
In related news, insider Orlando D. Carvalho sold 12,700 shares of Lockheed Martin Corp. stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $254.78, for a total value of $3,235,706.00. Following the sale, the insider now owns 29,120 shares in the company, valued at $7,419,193.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sondra L. Barbour sold 66,460 shares of Lockheed Martin Corp. stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total transaction of $16,996,480.40. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at approximately $7,979,088. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by 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.
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corp. (NYSE:LMT).
Receive News & Ratings for Lockheed Martin Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin Corp. and related companies with MarketBeat.com's FREE daily email newsletter.