Arden Trust Co Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Arden Trust Co trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 18.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 758 shares of the aerospace company’s stock after selling 176 shares during the quarter. Arden Trust Co’s holdings in Lockheed Martin were worth $354,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LMT. Van ECK Associates Corp raised its stake in shares of Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after purchasing an additional 336,588 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Lockheed Martin during the first quarter worth about $151,402,000. Corient Private Wealth LLC grew its holdings in Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares during the period. Finally, Capital Research Global Investors grew its holdings in Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after acquiring an additional 218,506 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Price Performance

Shares of NYSE LMT traded up $6.95 during midday trading on Wednesday, hitting $548.51. The stock had a trading volume of 1,257,470 shares, compared to its average volume of 1,097,356. The company has a market capitalization of $131.61 billion, a PE ratio of 20.07, a P/E/G ratio of 4.40 and a beta of 0.46. The stock has a 50 day simple moving average of $480.10 and a 200-day simple moving average of $457.97. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $562.60. 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 released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter last year, the business posted $6.73 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed 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 of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.30%. Lockheed Martin’s payout ratio is 46.10%.

Analysts Set New Price Targets

Several research firms recently commented on LMT. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group raised their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays raised their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $534.46.

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.