Abbot Financial Management Inc. Has $2.83 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Abbot Financial Management Inc. cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,049 shares of the aerospace company’s stock after selling 277 shares during the period. Lockheed Martin accounts for approximately 1.5% of Abbot Financial Management Inc.’s holdings, making the stock its 14th biggest holding. Abbot Financial Management Inc.’s holdings in Lockheed Martin were worth $2,826,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LMT. Old West Investment Management LLC grew its stake in shares of Lockheed Martin by 4.1% during the second quarter. Old West Investment Management LLC now owns 24,990 shares of the aerospace company’s stock worth $11,673,000 after purchasing an additional 986 shares during the period. Edgestream Partners L.P. grew its position in shares of Lockheed Martin by 63.6% during the 2nd quarter. Edgestream Partners L.P. now owns 3,170 shares of the aerospace company’s stock worth $1,481,000 after buying an additional 1,232 shares during the period. Moors & Cabot Inc. increased its stake in shares of Lockheed Martin by 0.6% in the 2nd quarter. Moors & Cabot Inc. now owns 19,793 shares of the aerospace company’s stock valued at $9,245,000 after acquiring an additional 109 shares during the last quarter. Excalibur Management Corp raised its position in shares of Lockheed Martin by 8.3% in the 2nd quarter. Excalibur Management Corp now owns 2,991 shares of the aerospace company’s stock valued at $1,397,000 after acquiring an additional 230 shares during the period. Finally, WealthPLAN Partners LLC boosted its stake in Lockheed Martin by 6.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 11,114 shares of the aerospace company’s stock worth $5,191,000 after acquiring an additional 666 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In other 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 owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LMT shares. Susquehanna increased 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. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Barclays boosted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Stock Up 0.5 %

Shares of LMT stock opened at $572.92 on Tuesday. The firm’s fifty day moving average price is $537.11 and its two-hundred day moving average price is $485.28. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $136.56 billion, a P/E ratio of 20.96, a PEG ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business 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 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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