Adirondack Trust Co. Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Adirondack Trust Co. decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 11.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,954 shares of the aerospace company’s stock after selling 630 shares during the quarter. Lockheed Martin makes up 1.4% of Adirondack Trust Co.’s holdings, making the stock its 21st largest position. Adirondack Trust Co.’s holdings in Lockheed Martin were worth $1,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Advisors Inc. boosted its position in Lockheed Martin by 44.1% during the first quarter. Cornerstone Advisors Inc. now owns 160 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 49 shares in the last quarter. Haverford Trust Co. boosted its position in Lockheed Martin by 331.6% during the first quarter. Haverford Trust Co. now owns 31,527 shares of the aerospace company’s stock worth $9,463,000 after purchasing an additional 24,222 shares in the last quarter. Linscomb & Williams Inc. boosted its position in Lockheed Martin by 4.5% during the first quarter. Linscomb & Williams Inc. now owns 18,877 shares of the aerospace company’s stock worth $5,666,000 after purchasing an additional 811 shares in the last quarter. Ballentine Partners LLC boosted its position in Lockheed Martin by 4.0% during the first quarter. Ballentine Partners LLC now owns 833 shares of the aerospace company’s stock worth $250,000 after purchasing an additional 32 shares in the last quarter. Finally, Wade G W & Inc. boosted its position in Lockheed Martin by 5.1% during the first quarter. Wade G W & Inc. now owns 2,696 shares of the aerospace company’s stock worth $809,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

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



Shares of Lockheed Martin stock traded up $2.49 during mid-day trading on Wednesday, reaching $384.61. 708,027 shares of the stock traded hands, compared to its average volume of 1,181,674. The business has a 50-day moving average of $385.46 and a 200 day moving average of $353.80. Lockheed Martin Co. has a fifty-two week low of $241.18 and a fifty-two week high of $399.96. The stock has a market capitalization of $108.61 billion, a PE ratio of 21.55, a PEG ratio of 2.55 and a beta of 0.96. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.74 by $0.26. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The firm had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. During the same quarter last year, the firm earned $4.31 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Lockheed Martin Co. will post 21.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $2.40 dividend. This represents a $9.60 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.

LMT has been the topic of a number of recent analyst reports. 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. DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Barclays reissued a “hold” rating and set a $410.00 target price on shares of Lockheed Martin in a report on Wednesday. Morgan Stanley increased their target price on Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Finally, Credit Suisse Group increased their target price on Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Lockheed Martin has a consensus rating of “Buy” and a consensus target price of $370.71.

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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