Lockheed Martin Co. (NYSE:LMT) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 460 shares of the aerospace company’s stock after selling 30 shares during the period. Argent Capital Management LLC’s holdings in Lockheed Martin were worth $215,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Lockheed Martin by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock worth $470,536,000 after buying an additional 27,349 shares during the last quarter. Capital Research Global Investors increased its position in Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after buying an additional 218,506 shares during the period. Envestnet Asset Management Inc. lifted its stake in Lockheed Martin by 1.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after buying an additional 9,136 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after acquiring an additional 274,680 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 0.4 %

Shares of Lockheed Martin stock opened at $555.01 on Friday. The business has a fifty day simple moving average of $504.16 and a 200-day simple moving average of $469.09. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $564.22. The firm has a market cap of $133.17 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.73 earnings per share. On average, equities analysts forecast that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.27%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LMT. Susquehanna increased their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $540.00 to $600.00 in a report on Friday, July 26th. UBS Group increased their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.