FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,757 shares of the aerospace company’s stock after selling 130 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Lockheed Martin were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Capital World Investors boosted its position in shares of Lockheed Martin by 1.5% in the first quarter. Capital World Investors now owns 17,207,412 shares of the aerospace company’s stock worth $5,832,471,000 after acquiring an additional 252,054 shares during the last quarter. Capital International Investors increased its position in Lockheed Martin by 6.5% during the 1st quarter. Capital International Investors now owns 2,375,034 shares of the aerospace company’s stock worth $805,018,000 after purchasing an additional 144,422 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Lockheed Martin during the second quarter valued at approximately $49,952,000. Waddell & Reed Financial Inc. grew its stake in Lockheed Martin by 36.4% during the first quarter. Waddell & Reed Financial Inc. now owns 465,483 shares of the aerospace company’s stock worth $157,775,000 after buying an additional 124,146 shares during the period. Finally, Ziegler Capital Management LLC acquired a new stake in shares of Lockheed Martin in the first quarter worth $38,165,000. 81.87% of the stock is currently owned by institutional investors and hedge funds.
LMT stock traded down $2.75 during mid-day trading on Friday, hitting $378.97. 1,101,905 shares of the company were exchanged, compared to its average volume of 1,406,967. The firm has a fifty day simple moving average of $369.01 and a 200 day simple moving average of $382.20. The company has a market capitalization of $106.28 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 2.23 and a beta of 0.95. Lockheed Martin Co. has a twelve month low of $266.11 and a twelve month high of $442.53. The company has a current ratio of 1.31, a quick ratio of 1.08 and a debt-to-equity ratio of 3.22.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be issued a $2.40 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.53%. Lockheed Martin’s dividend payout ratio (DPR) is 43.74%.
A number of brokerages recently weighed in on LMT. UBS Group decreased their price target on shares of Lockheed Martin from $482.00 to $475.00 and set a “buy” rating for the company in a research report on Thursday, June 11th. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $350.00 to $395.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Cowen began coverage on Lockheed Martin in a research note on Tuesday, April 21st. They issued a “buy” rating and a $410.00 target price for the company. Robert W. Baird boosted their price target on Lockheed Martin from $371.00 to $453.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Finally, Seaport Global Securities initiated coverage on Lockheed Martin in a report on Tuesday, May 19th. They issued a “buy” rating and a $435.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $442.67.
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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