Sentry Investment Management LLC Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Sentry Investment Management LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 17.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,066 shares of the aerospace company’s stock after selling 218 shares during the period. Sentry Investment Management LLC’s holdings in Lockheed Martin were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in shares of Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after buying an additional 336,588 shares during the period. Capital Research Global Investors lifted its stake in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Lockheed Martin by 1.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after buying an additional 9,136 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after purchasing an additional 274,680 shares during the last quarter. Finally, LSV Asset Management grew its stake in Lockheed Martin by 3.3% during the 2nd quarter. LSV Asset Management now owns 505,427 shares of the aerospace company’s stock worth $236,085,000 after buying an additional 16,280 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.8 %

Shares of NYSE LMT opened at $572.19 on Wednesday. The stock has a market capitalization of $136.39 billion, a P/E ratio of 20.94, a PEG ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $578.73. The stock’s 50 day moving average price is $528.67 and its two-hundred day moving average price is $481.35. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the previous year, the business earned $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. Lockheed Martin’s dividend payout ratio is 46.10%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LMT shares. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Susquehanna upped their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the company from $540.00 to $600.00 in a report on Friday, July 26th. Finally, Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $553.43.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by insiders.

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.