Exeter Financial LLC Sells 276 Shares of Lockheed Martin Co. (NYSE:LMT)

Exeter Financial LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,533 shares of the aerospace company’s stock after selling 276 shares during the quarter. Lockheed Martin accounts for 1.4% of Exeter Financial LLC’s holdings, making the stock its 26th largest holding. Exeter Financial LLC’s holdings in Lockheed Martin were worth $1,648,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Glenview State Bank Trust DEPT. increased its stake in Lockheed Martin by 6.2% in the second quarter. Glenview State Bank Trust DEPT. now owns 5,433 shares of the aerospace company’s stock valued at $1,975,000 after acquiring an additional 315 shares during the last quarter. Traynor Capital Management Inc. increased its stake in Lockheed Martin by 276.5% in the second quarter. Traynor Capital Management Inc. now owns 5,136 shares of the aerospace company’s stock valued at $1,856,000 after acquiring an additional 3,772 shares during the last quarter. First Bank & Trust bought a new position in Lockheed Martin in the second quarter valued at approximately $67,000. Ashburton Jersey Ltd bought a new position in Lockheed Martin in the second quarter valued at approximately $57,000. Finally, Delta Asset Management LLC TN increased its stake in Lockheed Martin by 37.9% in the second quarter. Delta Asset Management LLC TN now owns 659 shares of the aerospace company’s stock valued at $240,000 after acquiring an additional 181 shares during the last quarter. 78.50% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on LMT. Barclays lifted their price objective on shares of Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $324.00 to $356.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price objective on the stock in a research note on Thursday, April 25th. Finally, UBS Group lifted their price objective on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Seven investment 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 company. The stock currently has an average rating of “Buy” and a consensus price target of $366.43.

Shares of Lockheed Martin stock opened at $366.78 on Wednesday. Lockheed Martin Co. has a fifty-two week low of $241.18 and a fifty-two week high of $373.37. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.20 and a quick ratio of 0.96. The firm has a market capitalization of $102.20 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 2.40 and a beta of 0.97. The company has a 50 day moving average of $363.70.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a $2.20 dividend. The ex-dividend date is Friday, August 30th. This represents a $8.80 dividend on an annualized basis and a yield of 2.40%. Lockheed Martin’s dividend payout ratio is currently 49.30%.

In other news, SVP Maryanne Lavan sold 1,003 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total transaction of $366,596.50. Following the transaction, the senior vice president now owns 1,478 shares in the company, valued at $540,209. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Marillyn A. Hewson sold 19,500 shares of Lockheed Martin 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 transaction, the chairman now owns 46,534 shares in the company, valued at approximately $17,177,560.76. The disclosure for this sale can be found here. Insiders sold 22,503 shares of company stock worth $8,292,527 in the last 90 days. Company insiders own 0.35% of the company’s stock.

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. 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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