Lockheed Martin Co. (NYSE:LMT) Stock Holdings Decreased by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 55.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,575 shares of the aerospace company’s stock after selling 1,933 shares during the period. Independence Bank of Kentucky’s holdings in Lockheed Martin were worth $725,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LMT. Lee Financial Co grew its position in Lockheed Martin by 367.6% in the 1st quarter. Lee Financial Co now owns 477 shares of the aerospace company’s stock worth $210,000 after purchasing an additional 375 shares during the last quarter. Vontobel Holding Ltd. grew its position in Lockheed Martin by 240.0% in the 1st quarter. Vontobel Holding Ltd. now owns 4,124 shares of the aerospace company’s stock worth $1,821,000 after purchasing an additional 2,911 shares during the last quarter. Sei Investments Co. grew its position in Lockheed Martin by 56.8% in the 1st quarter. Sei Investments Co. now owns 23,153 shares of the aerospace company’s stock worth $9,995,000 after purchasing an additional 8,389 shares during the last quarter. NewEdge Advisors LLC grew its position in Lockheed Martin by 18.4% in the 1st quarter. NewEdge Advisors LLC now owns 28,807 shares of the aerospace company’s stock worth $12,716,000 after purchasing an additional 4,472 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Lockheed Martin by 20.4% in the 1st quarter. Mackenzie Financial Corp now owns 107,366 shares of the aerospace company’s stock worth $47,391,000 after purchasing an additional 18,201 shares during the last quarter. Institutional investors own 74.26% of the company’s stock.

Insider Activity at Lockheed Martin

In other news, Director John Donovan purchased 548 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 19th. The stock was acquired at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the transaction, the director now owns 3,378 shares in the company, valued at $1,543,982.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Lockheed Martin Trading Up 1.0 %

Shares of NYSE:LMT opened at $425.33 on Friday. The stock has a market capitalization of $107.11 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.40 and a beta of 0.65. Lockheed Martin Co. has a 1-year low of $381.55 and a 1-year high of $508.10. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.16 and a current ratio of 1.36. The company has a 50 day moving average price of $449.17 and a 200 day moving average price of $460.79.

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

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be given a $3.00 dividend. The ex-dividend date is Thursday, August 31st. This represents a $12.00 annualized dividend and a dividend yield of 2.82%. Lockheed Martin’s dividend payout ratio (DPR) is presently 43.88%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 19th. StockNews.com assumed coverage on shares of Lockheed Martin in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Morgan Stanley restated an “equal weight” rating and issued a $532.00 target price on shares of Lockheed Martin in a research report on Wednesday, July 19th. Susquehanna decreased their price objective on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, July 19th. Finally, Citigroup decreased their price objective on shares of Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $499.43.

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, Rotary and Mission Systems, and Space.