Northwest Bancshares Inc. cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,759 shares of the aerospace company’s stock after selling 31 shares during the quarter. Northwest Bancshares Inc.’s holdings in Lockheed Martin were worth $686,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Lockheed Martin by 0.5% during the second quarter. Vanguard Group Inc. now owns 21,642,359 shares of the aerospace company’s stock worth $7,867,863,000 after acquiring an additional 111,239 shares in the last quarter. Northern Trust Corp raised its position in Lockheed Martin by 1.3% in the 2nd quarter. Northern Trust Corp now owns 3,153,040 shares of the aerospace company’s stock valued at $1,146,256,000 after buying an additional 41,269 shares during the last quarter. Invesco Ltd. raised its position in Lockheed Martin by 360.8% in the 2nd quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock valued at $950,739,000 after buying an additional 2,047,707 shares during the last quarter. Bank of New York Mellon Corp raised its position in Lockheed Martin by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,981,732 shares of the aerospace company’s stock valued at $720,440,000 after buying an additional 9,767 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Lockheed Martin by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,940,513 shares of the aerospace company’s stock valued at $705,455,000 after buying an additional 72,256 shares during the last quarter. Institutional investors own 78.32% of the company’s stock.
LMT stock traded up $2.95 during mid-day trading on Wednesday, reaching $385.07. The company had a trading volume of 334,003 shares, compared to its average volume of 1,184,094. 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 stock has a 50 day simple moving average of $385.36 and a two-hundred day simple moving average of $353.37. The company has a market capitalization of $108.71 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.55 and a beta of 0.96. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a yield of 2.49%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, November 29th. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.
In other news, SVP Maryanne Lavan sold 1,003 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the transaction, the senior vice president now directly owns 1,478 shares in the company, valued at approximately $540,209. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James D. Taiclet, Jr. bought 1,354 shares of Lockheed Martin stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $376.32 per share, with a total value of $509,537.28. Following the completion of the purchase, the director now directly owns 1,354 shares in the company, valued at approximately $509,537.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 22,503 shares of company stock valued at $8,292,527. Corporate insiders own 0.35% of the company’s stock.
A number of equities research analysts recently issued reports on the company. DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Credit Suisse Group lifted their target price on Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley lifted their target price on Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Barclays restated a “hold” rating and issued a $410.00 price target on shares of Lockheed Martin in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $370.71.
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 (MFC), Rotary and Mission Systems (RMS), and Space.
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