Indiana Trust & Investment Management CO Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Indiana Trust & Investment Management CO lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,149 shares of the aerospace company’s stock after acquiring an additional 77 shares during the period. Indiana Trust & Investment Management CO’s holdings in Lockheed Martin were worth $529,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Lockheed Martin by 0.5% during the first quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock worth $17,950,761,000 after purchasing an additional 176,739 shares during the period. FMR LLC lifted its holdings in shares of Lockheed Martin by 3.4% during the first quarter. FMR LLC now owns 7,497,698 shares of the aerospace company’s stock worth $3,544,387,000 after purchasing an additional 244,251 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lockheed Martin by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,849,054 shares of the aerospace company’s stock worth $2,821,626,000 after purchasing an additional 382,510 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lockheed Martin by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,387,684 shares of the aerospace company’s stock worth $2,132,545,000 after purchasing an additional 11,855 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Lockheed Martin by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 2,419,579 shares of the aerospace company’s stock worth $1,139,469,000 after purchasing an additional 85,913 shares during the period. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Lockheed Martin from $433.00 to $440.00 in a report on Wednesday, July 19th. Susquehanna reduced their target price on Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, July 19th. Morgan Stanley reissued an “equal weight” rating and issued a $532.00 target price on shares of Lockheed Martin in a report on Wednesday, July 19th. StockNews.com started coverage on Lockheed Martin in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reduced their target price on Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and an average price target of $499.43.

Lockheed Martin Trading Up 0.5 %

LMT traded up $2.21 during midday trading on Friday, hitting $428.10. The company’s stock had a trading volume of 291,151 shares, compared to its average volume of 1,194,369. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 1.87. The firm has a market cap of $107.81 billion, a P/E ratio of 15.57, a PEG ratio of 2.40 and a beta of 0.65. The firm has a 50-day moving average price of $449.17 and a two-hundred day moving average price of $460.79. Lockheed Martin Co. has a 52-week low of $381.55 and a 52-week high of $508.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $6.73 EPS for the quarter, beating the consensus estimate of $6.45 by $0.28. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $15.92 billion. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.32 EPS. On average, research analysts anticipate that Lockheed Martin Co. will post 27.07 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, August 31st. Lockheed Martin’s dividend payout ratio is currently 43.88%.

Insider Activity

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

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.