Pekin Hardy Strauss Inc. Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Pekin Hardy Strauss Inc. reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 17.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 625 shares of the aerospace company’s stock after selling 135 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Lockheed Martin were worth $292,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. HTLF Bank increased its stake in Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after buying an additional 20 shares during the period. tru Independence LLC increased its stake in shares of Lockheed Martin by 2.5% during the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after acquiring an additional 20 shares during the period. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Goldstein Advisors LLC raised its holdings in Lockheed Martin by 1.2% during the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after purchasing an additional 21 shares in the last quarter. Finally, Hudock Inc. lifted its position in Lockheed Martin by 1.3% in the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $567.07 on Wednesday. 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. The stock has a fifty day moving average of $539.25 and a two-hundred day moving average of $486.27. The company has a market capitalization of $136.06 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) 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 analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $6.73 EPS. On average, analysts anticipate that Lockheed Martin Co. will post 26.65 EPS 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. 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 annualized dividend and a yield of 2.22%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LMT shares. Barclays increased their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a report on Tuesday, September 3rd. UBS Group upped their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. 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 research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $553.43.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction 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 document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.