Harbor Capital Advisors Inc. Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Harbor Capital Advisors Inc. reduced its position in Lockheed Martin Co. (NYSE:LMT) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,964 shares of the aerospace company’s stock after selling 28 shares during the period. Harbor Capital Advisors Inc.’s holdings in Lockheed Martin were worth $2,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Franklin Resources Inc. increased its position 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. Dimensional Fund Advisors LP grew its position in Lockheed Martin by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock worth $470,536,000 after acquiring an additional 27,349 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Lockheed Martin by 1.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after purchasing an additional 9,136 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after buying an additional 274,680 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 1.4 %

NYSE LMT traded up $7.34 during trading hours on Wednesday, hitting $548.90. 753,347 shares of the company were exchanged, compared to its average volume of 1,093,507. The stock has a market cap of $130.84 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $562.60. The stock has a 50-day moving average price of $480.10 and a 200 day moving average price of $457.97. 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 earnings per share 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 the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.73 earnings per share. Analysts forecast that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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. This represents a $12.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Analyst Ratings Changes

LMT has been the subject of several research reports. UBS Group upped their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the company from $540.00 to $600.00 in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Finally, Citigroup increased their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $534.46.

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 dated 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 sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by insiders.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.