NORTHSTAR ASSET MANAGEMENT Co LLC Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

NORTHSTAR ASSET MANAGEMENT Co LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600 shares of the aerospace company’s stock after selling 50 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Lockheed Martin were worth $280,000 at the end of the most recent quarter.

Other large investors 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 worth $218,841,000 after acquiring 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 worth $1,173,641,000 after acquiring an additional 336,588 shares during the period. Confluence Investment Management LLC acquired a new position in Lockheed Martin during the first quarter worth $151,402,000. Corient Private Wealth LLC grew its holdings in Lockheed Martin by 91.8% in 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 last quarter. Finally, Capital Research Global Investors grew its holdings in Lockheed Martin by 29.7% in 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 last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated 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 in the company, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.0 %

Shares of Lockheed Martin stock traded down $0.16 during trading hours on Friday, reaching $560.13. The stock had a trading volume of 912,022 shares, compared to its average volume of 1,086,350. The firm has a 50 day simple moving average of $494.65 and a two-hundred day simple moving average of $464.56. The firm has a market capitalization of $134.40 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 4.40 and a beta of 0.46. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $564.22.

Lockheed Martin (NYSE:LMT) last posted 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 during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the firm earned $6.73 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.25%. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Analysts Set New Price Targets

Several research firms have weighed in on LMT. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, 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 report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $541.85.

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.