Stock Yards Bank & Trust Co. Sells 1,429 Shares of Lockheed Martin Co. (NYSE:LMT)

Stock Yards Bank & Trust Co. decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 11.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,395 shares of the aerospace company’s stock after selling 1,429 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Lockheed Martin were worth $5,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Old West Investment Management LLC boosted its holdings in Lockheed Martin by 4.1% in the second quarter. Old West Investment Management LLC now owns 24,990 shares of the aerospace company’s stock worth $11,673,000 after acquiring an additional 986 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Lockheed Martin by 63.6% in the 2nd quarter. Edgestream Partners L.P. now owns 3,170 shares of the aerospace company’s stock worth $1,481,000 after acquiring an additional 1,232 shares in the last quarter. Moors & Cabot Inc. increased its stake in Lockheed Martin by 0.6% in the 2nd quarter. Moors & Cabot Inc. now owns 19,793 shares of the aerospace company’s stock valued at $9,245,000 after buying an additional 109 shares during the last quarter. Excalibur Management Corp increased its position in shares of Lockheed Martin by 8.3% during the second quarter. Excalibur Management Corp now owns 2,991 shares of the aerospace company’s stock valued at $1,397,000 after acquiring an additional 230 shares during the last quarter. Finally, WealthPLAN Partners LLC raised its stake in shares of Lockheed Martin by 6.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 11,114 shares of the aerospace company’s stock worth $5,191,000 after purchasing an additional 666 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Buying and Selling

In other Lockheed Martin 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 transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by insiders.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $572.92 on Tuesday. The firm has a market capitalization of $136.56 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 4.55 and a beta of 0.47. The stock has a fifty day moving average of $537.11 and a 200 day moving average of $485.28. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73. 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 posted its 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. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the company posted $6.73 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.20%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Susquehanna upped their price target 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. Wells Fargo & Company lifted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.