Patton Fund Management Inc. Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Patton Fund Management Inc. cut its position in Lockheed Martin Co. (NYSE:LMT) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,657 shares of the aerospace company’s stock after selling 207 shares during the quarter. Patton Fund Management Inc.’s holdings in Lockheed Martin were worth $1,684,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Lockheed Martin by 0.5% during the first quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock valued at $17,950,761,000 after purchasing an additional 176,739 shares during the last quarter. FMR LLC lifted its stake in shares of Lockheed Martin by 3.4% during the 1st quarter. FMR LLC now owns 7,497,698 shares of the aerospace company’s stock valued at $3,544,387,000 after buying an additional 244,251 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lockheed Martin by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,849,054 shares of the aerospace company’s stock worth $2,821,626,000 after buying an additional 382,510 shares during the period. Geode Capital Management LLC raised its holdings in Lockheed Martin by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,387,684 shares of the aerospace company’s stock valued at $2,132,545,000 after acquiring an additional 11,855 shares during the period. Finally, Ameriprise Financial Inc. lifted its position 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 acquiring an additional 85,913 shares in the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent research reports. Wells Fargo & Company upgraded Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 price target for the company in a research report on Monday. Citigroup decreased their price target on Lockheed Martin from $579.00 to $555.00 in a research report on Wednesday, July 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $532.00 price objective on shares of Lockheed Martin in a research note on Wednesday, July 19th. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 19th. Finally, Susquehanna decreased their price target on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $499.43.

Insider Buying and Selling at Lockheed Martin

In other news, Director John Donovan bought 548 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were purchased at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the completion of the acquisition, the director now owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.2 %

Shares of Lockheed Martin stock traded down $0.73 during trading on Tuesday, reaching $429.13. The company’s stock had a trading volume of 75,702 shares, compared to its average volume of 1,194,594. The company has a market cap of $108.07 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 2.41 and a beta of 0.65. The firm’s 50-day moving average is $447.76 and its two-hundred day moving average is $459.96. Lockheed Martin Co. has a 52-week low of $381.55 and a 52-week high of $508.10. The company has a quick ratio of 1.16, a current ratio of 1.36 and a debt-to-equity ratio of 1.87.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.28. The firm had revenue of $16.69 billion for 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 company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $6.32 earnings per share. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 27.07 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $12.00 dividend on an annualized basis and a yield of 2.80%. Lockheed Martin’s dividend payout ratio (DPR) is currently 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.