D.A. Davidson & CO. Sells 1,296 Shares of Lockheed Martin Co. (NYSE:LMT)

D.A. Davidson & CO. trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,869 shares of the aerospace company’s stock after selling 1,296 shares during the period. D.A. Davidson & CO.’s holdings in Lockheed Martin were worth $17,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp grew its holdings in Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares during the period. Franklin Resources Inc. grew its holdings in 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 purchasing an additional 336,588 shares during the period. Confluence Investment Management LLC acquired a new position in Lockheed Martin during the first quarter valued at approximately $151,402,000. Corient Private Wealth LLC grew its holdings in Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after purchasing an additional 274,680 shares during the period. Finally, Capital Research Global Investors grew its holdings in Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

NYSE LMT traded up $1.25 on Friday, hitting $568.10. 1,082,809 shares of the stock were exchanged, compared to its average volume of 934,914. 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 business’s fifty day moving average is $514.24 and its 200 day moving average is $473.84. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $569.09. The company has a market capitalization of $135.41 billion, a PE ratio of 20.79, a P/E/G ratio of 4.56 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.73 earnings per share. Research analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is presently 46.10%.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s 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 transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Barclays upped their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday. Finally, UBS Group increased their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $541.85.

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.