Abner Herrman & Brock LLC Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Abner Herrman & Brock LLC reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,492 shares of the aerospace company’s stock after selling 112 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Lockheed Martin were worth $4,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Argent Trust Co grew its holdings in Lockheed Martin by 1.6% during the 1st quarter. Argent Trust Co now owns 33,538 shares of the aerospace company’s stock valued at $15,854,000 after buying an additional 535 shares in the last quarter. Merit Financial Group LLC increased its holdings in Lockheed Martin by 8.8% in the 1st quarter. Merit Financial Group LLC now owns 7,358 shares of the aerospace company’s stock valued at $3,478,000 after acquiring an additional 596 shares during the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in Lockheed Martin in the 1st quarter worth $6,709,000. Quadrant Capital Group LLC boosted its holdings in shares of Lockheed Martin by 14.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,858 shares of the aerospace company’s stock valued at $904,000 after purchasing an additional 230 shares during the last quarter. Finally, Rebalance LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at about $275,000. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In related news, Director John Donovan acquired 548 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was purchased at an average cost of $457.07 per share, with a total value of $250,474.36. Following the transaction, the director now directly owns 3,378 shares of the company’s stock, valued at approximately $1,543,982.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LMT. StockNews.com began coverage on Lockheed Martin in a report on Thursday, August 17th. They set a “buy” rating for the company. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $433.00 to $440.00 in a report on Wednesday, July 19th. Morgan Stanley reissued an “equal weight” rating and set a $532.00 price objective on shares of Lockheed Martin in a research note on Wednesday, July 19th. Citigroup dropped their target price on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Finally, Royal Bank of Canada cut their target price on Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $499.43.

Lockheed Martin Stock Up 0.4 %

NYSE LMT traded up $1.69 during midday trading on Thursday, hitting $422.68. 159,748 shares of the company traded hands, compared to its average volume of 1,194,775. Lockheed Martin Co. has a 52 week low of $381.55 and a 52 week high of $508.10. The company’s 50-day simple moving average is $450.01 and its 200-day simple moving average is $461.07. The company has a market cap of $106.44 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.42 and a beta of 0.65. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.36 and a quick ratio of 1.16.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.28. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $15.92 billion. During the same quarter last year, the company earned $6.32 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.07 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be issued a dividend of $3.00 per share. The ex-dividend date is Thursday, August 31st. This represents a $12.00 annualized dividend and a dividend yield of 2.84%. Lockheed Martin’s dividend payout ratio is presently 43.88%.

About Lockheed Martin

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, Rotary and Mission Systems, and Space.