OmniStar Financial Group Inc. reduced its position in Lockheed Martin Co. (NYSE:LMT) by 45.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,432 shares of the aerospace company’s stock after selling 2,845 shares during the quarter. OmniStar Financial Group Inc.’s holdings in Lockheed Martin were worth $1,248,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new position in shares of Lockheed Martin in the 1st quarter valued at about $26,000. Heritage Wealth Advisors boosted its stake in shares of Lockheed Martin by 304.3% in the 1st quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock valued at $28,000 after buying an additional 70 shares during the period. Ellis Investment Partners LLC purchased a new position in shares of Lockheed Martin in the 1st quarter valued at about $29,000. Covenant Multifamily Offices LLC purchased a new position in shares of Lockheed Martin in the 1st quarter valued at about $36,000. Finally, Bremer Bank National Association purchased a new position in shares of Lockheed Martin in the 1st quarter valued at about $41,000. 78.50% of the stock is owned by institutional investors.
LMT stock traded down $0.16 during trading on Friday, hitting $377.01. 853,120 shares of the company’s stock were exchanged, compared to its average volume of 1,259,600. The firm’s 50-day moving average price is $364.87. The firm has a market capitalization of $104.29 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.97. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $379.36. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.20 and a quick ratio of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, August 30th. Lockheed Martin’s payout ratio is 49.30%.
In other Lockheed Martin news, Chairman Marillyn A. Hewson sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total value of $7,198,230.00. Following the completion of the sale, the chairman now owns 46,534 shares in the company, valued at $17,177,560.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kenneth R. Possenriede sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $363.85, for a total value of $727,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,503 shares of company stock valued at $8,292,527. 0.35% of the stock is owned by company insiders.
LMT has been the subject of several recent research reports. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price objective for the company in a research note on Thursday, April 25th. ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Morgan Stanley lifted their price objective on Lockheed Martin from $324.00 to $356.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. UBS Group lifted their price objective on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Bank of America reiterated a “buy” rating and issued a $400.00 price objective (up previously from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $366.43.
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 (MFC), Rotary and Mission Systems (RMS), and Space.
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