First PREMIER Bank Decreases Stock Position in Lockheed Martin Co. (NYSE:LMT)

First PREMIER Bank trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 2.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,995 shares of the aerospace company’s stock after selling 50 shares during the quarter. First PREMIER Bank’s holdings in Lockheed Martin were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tennessee Valley Asset Management Partners purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at about $58,000. Beverly Hills Private Wealth LLC lifted its stake in shares of Lockheed Martin by 18.8% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 903 shares of the aerospace company’s stock worth $409,000 after purchasing an additional 143 shares in the last quarter. Waldron Private Wealth LLC increased its position in shares of Lockheed Martin by 3.1% during the fourth quarter. Waldron Private Wealth LLC now owns 1,455 shares of the aerospace company’s stock worth $659,000 after acquiring an additional 44 shares during the last quarter. Cullen Investment Group LTD. bought a new stake in Lockheed Martin in the fourth quarter valued at about $385,000. Finally, Dakota Wealth Management increased its holdings in Lockheed Martin by 6.7% in the fourth quarter. Dakota Wealth Management now owns 5,586 shares of the aerospace company’s stock valued at $2,532,000 after buying an additional 350 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Susquehanna upped their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and upped their price target for the company from $465.00 to $635.00 in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group dropped their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $541.85.

Lockheed Martin Stock Down 0.5 %

Shares of LMT stock traded down $2.93 on Thursday, hitting $560.29. The stock had a trading volume of 920,590 shares, compared to its average volume of 1,087,462. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $564.22. The business has a 50 day moving average of $492.85 and a 200 day moving average of $463.41. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a market cap of $134.43 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the business earned $6.73 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Lockheed Martin 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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.