Pekin Hardy Strauss Inc. Cuts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Pekin Hardy Strauss Inc. cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 17.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 625 shares of the aerospace company’s stock after selling 135 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Lockheed Martin were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. HTLF Bank grew its position in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after acquiring an additional 20 shares during the period. tru Independence LLC grew its holdings in shares of Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares during the period. Sachetta LLC increased its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Goldstein Advisors LLC raised its holdings in Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after buying an additional 21 shares during the period. Finally, Hudock Inc. lifted its position in Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Down 1.0 %

LMT stock opened at $567.07 on Wednesday. The company has a market capitalization of $136.06 billion, a P/E ratio of 20.75, a PEG ratio of 4.55 and a beta of 0.47. The firm has a 50 day simple moving average of $539.25 and a 200-day simple moving average of $486.27. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the previous year, the firm earned $6.73 EPS. The company’s revenue was up 8.6% on a year-over-year basis. On average, equities research analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LMT. Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Barclays boosted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. Finally, Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

About Lockheed Martin

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.