Canal Insurance CO Has $17.10 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Canal Insurance CO reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,600 shares of the aerospace company’s stock after selling 100 shares during the period. Lockheed Martin makes up about 4.5% of Canal Insurance CO’s holdings, making the stock its 4th largest holding. Canal Insurance CO’s holdings in Lockheed Martin were worth $17,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. First Pacific Financial bought a new stake in Lockheed Martin during the first quarter worth about $25,000. Altshuler Shaham Ltd bought a new stake in Lockheed Martin during the fourth quarter worth about $26,000. Wiser Advisor Group LLC lifted its stake in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin during the first quarter worth about $30,000. Finally, Stephens Consulting LLC lifted its stake in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LMT shares. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. UBS Group boosted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Bank of America reaffirmed a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $541.85.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $568.10 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $135.41 billion, a P/E ratio of 20.79, a PEG ratio of 4.56 and a beta of 0.46. The stock’s 50 day moving average is $514.24 and its 200 day moving average is $474.23. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $569.09.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for 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 quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.73 EPS. On average, equities research analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal 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 paid a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.22%. Lockheed Martin’s dividend payout ratio is 46.10%.

Lockheed Martin Company 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.