Bard Financial Services Inc. cut its stake in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,544 shares of the aerospace company’s stock after selling 350 shares during the period. Lockheed Martin comprises approximately 0.9% of Bard Financial Services Inc.’s investment portfolio, making the stock its 21st largest holding. Bard Financial Services Inc.’s holdings in Lockheed Martin were worth $12,220,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the stock. Lee Financial Co raised its stake in shares of Lockheed Martin by 367.6% during 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 period. Vontobel Holding Ltd. raised its stake in shares of Lockheed Martin by 240.0% during 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 period. Sei Investments Co. raised its stake in shares of Lockheed Martin by 56.8% during 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 period. NewEdge Advisors LLC raised its stake in shares of Lockheed Martin by 18.4% during 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 period. Finally, Mackenzie Financial Corp raised its stake in shares of Lockheed Martin by 20.4% during 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 period. 74.26% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently weighed in on LMT. Citigroup decreased their price objective on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $433.00 to $440.00 in a report on Wednesday, July 19th. Susquehanna decreased their price objective on Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, July 19th. StockNews.com began coverage on Lockheed Martin in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada decreased their price objective 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $499.43.
Insider Buying and Selling
In other news, Director John Donovan bought 548 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was bought at an average price of $457.07 per share, for a total transaction 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.
Lockheed Martin Stock Down 0.4 %
Shares of NYSE LMT opened at $424.05 on Friday. Lockheed Martin Co. has a 12 month low of $381.55 and a 12 month high of $508.10. 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 capitalization of $106.79 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 2.40 and a beta of 0.65. The business has a 50-day moving average of $447.76 and a 200-day moving average of $460.06.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $6.73 EPS for the quarter, topping the consensus estimate of $6.45 by $0.28. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $15.92 billion. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. Lockheed Martin’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.32 earnings per share. Sell-side analysts expect that Lockheed Martin Co. will post 27.07 earnings per share for the current fiscal year.
Lockheed Martin Dividend Announcement
The company also recently announced 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 dividend on an annualized basis and a yield of 2.83%. Lockheed Martin’s payout ratio is 43.88%.
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.
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