Greenleaf Trust Sells 266 Shares of Lockheed Martin Co. (NYSE:LMT)

Greenleaf Trust reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,863 shares of the aerospace company’s stock after selling 266 shares during the period. Greenleaf Trust’s holdings in Lockheed Martin were worth $2,859,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Lockheed Martin by 25.3% in the 4th quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock worth $894,874,000 after buying an additional 691,751 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in shares of Lockheed Martin by 38,923.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock worth $134,122,000 after buying an additional 1,337,784 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Lockheed Martin by 1.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,403 shares of the aerospace company’s stock worth $310,787,000 after buying an additional 18,777 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lockheed Martin by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 680,087 shares of the aerospace company’s stock worth $178,074,000 after buying an additional 37,194 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in shares of Lockheed Martin by 3.7% in the 1st quarter. Eagle Asset Management Inc. now owns 428,151 shares of the aerospace company’s stock worth $128,513,000 after buying an additional 15,359 shares during the last quarter. 78.47% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on LMT shares. ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Bank of America reiterated a “buy” rating and issued a $400.00 price objective (up previously from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. Credit Suisse Group upped their price objective on Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their price objective on Lockheed Martin from $324.00 to $356.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. Finally, UBS Group upped their price objective on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Lockheed Martin currently has an average rating of “Buy” and a consensus price target of $366.43.

In other news, SVP Maryanne Lavan sold 1,003 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total value of $366,596.50. Following the transaction, the senior vice president now owns 1,478 shares of the company’s stock, valued at $540,209. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Marillyn A. Hewson sold 19,500 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total transaction of $7,198,230.00. Following the completion of the transaction, the chairman now directly owns 46,534 shares in the company, valued at approximately $17,177,560.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,503 shares of company stock worth $8,292,527. Insiders own 0.35% of the company’s stock.

NYSE:LMT opened at $361.91 on Friday. The stock has a market capitalization of $102.54 billion, a P/E ratio of 20.28, a P/E/G ratio of 2.41 and a beta of 0.98. The stock’s fifty day moving average is $362.76. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $373.37. The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 4.36.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.26. The firm had revenue of $14.42 billion for the quarter, compared to the consensus estimate of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.31 earnings per share. Equities analysts forecast that Lockheed Martin Co. will post 21.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a $2.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $8.80 annualized dividend and a dividend yield of 2.43%. Lockheed Martin’s payout ratio is currently 49.30%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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