Amalgamated Bank Has $20.59 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Amalgamated Bank reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,088 shares of the aerospace company’s stock after selling 2,443 shares during the quarter. Amalgamated Bank’s holdings in Lockheed Martin were worth $20,594,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Morningstar Investment Services LLC boosted its stake in Lockheed Martin by 99.6% in the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after buying an additional 73,774 shares in the last quarter. Brevan Howard Capital Management LP boosted its stake in Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after buying an additional 5,736 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after buying an additional 2,400 shares in the last quarter. Finally, American National Bank boosted its stake in Lockheed Martin by 26.8% in the first quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock valued at $16,638,000 after buying an additional 7,731 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 1.0 %

Shares of LMT stock opened at $567.07 on Wednesday. The company has a market cap of $136.06 billion, a P/E ratio of 20.75, a PEG ratio of 4.55 and a beta of 0.47. The stock has a 50 day simple moving average of $539.25 and a two-hundred day simple moving average of $486.27. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73.

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

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Susquehanna raised their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, 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 note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $553.43.

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