Connors Investor Services Inc. decreased its position in Lockheed Martin Co. (NYSE:LMT) by 49.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,177 shares of the aerospace company’s stock after selling 12,975 shares during the period. Connors Investor Services Inc.’s holdings in Lockheed Martin were worth $4,790,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LMT. Private Trust Co. NA grew its stake in shares of Lockheed Martin by 0.5% in the 2nd quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock valued at $1,957,000 after purchasing an additional 28 shares during the period. Independence Bank of Kentucky grew its position in Lockheed Martin by 12.0% during the 2nd quarter. Independence Bank of Kentucky now owns 280 shares of the aerospace company’s stock worth $102,000 after acquiring an additional 30 shares during the last quarter. Granite Investment Partners LLC grew its position in Lockheed Martin by 0.3% during the 2nd quarter. Granite Investment Partners LLC now owns 10,622 shares of the aerospace company’s stock worth $3,862,000 after acquiring an additional 30 shares during the last quarter. Marietta Wealth Management LLC grew its position in Lockheed Martin by 0.9% during the 2nd quarter. Marietta Wealth Management LLC now owns 3,496 shares of the aerospace company’s stock worth $1,271,000 after acquiring an additional 30 shares during the last quarter. Finally, Assetmark Inc. grew its position in Lockheed Martin by 1.3% during the 2nd quarter. Assetmark Inc. now owns 2,438 shares of the aerospace company’s stock worth $886,000 after acquiring an additional 31 shares during the last quarter. 78.33% of the stock is owned by hedge funds and other institutional investors.

LMT traded down $1.07 during mid-day trading on Thursday, reaching $395.97. The stock had a trading volume of 236,624 shares, compared to its average volume of 914,100. The stock has a market capitalization of $110.89 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.61 and a beta of 0.95. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. The firm’s fifty day simple moving average is $378.60 and its two-hundred day simple moving average is $344.82. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating the Zacks’ consensus estimate of $4.74 by $0.26. The firm had revenue of $14.42 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $4.31 EPS. As a group, analysts expect that Lockheed Martin Co. will post 21.2 EPS for the current fiscal year.

The company also recently disclosed 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 of this dividend is Friday, August 30th. This represents a $8.80 dividend on an annualized basis and a yield of 2.22%. Lockheed Martin’s payout ratio is 49.30%.

A number of research firms recently commented on LMT. Credit Suisse Group increased their price target on Lockheed Martin from $369.00 to $379.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. UBS Group increased their price target on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley increased their price target on Lockheed Martin from $356.00 to $376.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Finally, DZ Bank restated a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. 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 an average target price of $367.86.

In related news, Director James D. Taiclet, Jr. purchased 1,354 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $376.32 per share, with a total value of $509,537.28. Following the purchase, the director now directly owns 1,354 shares in the company, valued at approximately $509,537.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Marillyn A. Hewson sold 19,500 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $369.14, for a total value 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. Insiders sold a total of 22,503 shares of company stock worth $8,292,527 over the last quarter. Corporate 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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