Financial Counselors Inc. Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

Financial Counselors Inc. lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,319 shares of the aerospace company’s stock after selling 1,695 shares during the quarter. Financial Counselors Inc.’s holdings in Lockheed Martin were worth $23,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its holdings in Lockheed Martin by 15.9% in the second quarter. Natixis Advisors LLC now owns 91,643 shares of the aerospace company’s stock worth $42,806,000 after purchasing an additional 12,594 shares during the last quarter. Equitable Trust Co. boosted its holdings in Lockheed Martin by 13.0% in the second quarter. Equitable Trust Co. now owns 913 shares of the aerospace company’s stock worth $426,000 after purchasing an additional 105 shares during the last quarter. Telos Capital Management Inc. boosted its holdings in Lockheed Martin by 659.7% in the second quarter. Telos Capital Management Inc. now owns 13,211 shares of the aerospace company’s stock worth $6,171,000 after purchasing an additional 11,472 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin in the second quarter worth approximately $61,000. Finally, Valmark Advisers Inc. raised its position in Lockheed Martin by 7.2% in the second quarter. Valmark Advisers Inc. now owns 3,750 shares of the aerospace company’s stock worth $1,752,000 after acquiring an additional 251 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on 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 completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $568.10 on Monday. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $569.09. The company has a market cap of $135.41 billion, a P/E ratio of 20.79, a P/E/G ratio of 4.56 and a beta of 0.46. The firm’s fifty day moving average is $514.24 and its two-hundred day moving average is $474.23. 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 (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the company posted $6.73 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid 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 dividend yield of 2.22%. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent research reports. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. UBS Group raised their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Susquehanna raised their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned 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 currently has an average rating of “Moderate Buy” and a consensus price target of $541.85.

Lockheed Martin 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.