Lockheed Martin Co. (NYSE:LMT) Shares Sold by Grove Bank & Trust

Grove Bank & Trust reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 16.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 710 shares of the aerospace company’s stock after selling 141 shares during the period. Grove Bank & Trust’s holdings in Lockheed Martin were worth $415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC purchased a new position in shares of Lockheed Martin during the second quarter worth $6,611,000. Verity & Verity LLC raised its holdings in shares of Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new position in Lockheed Martin in the third quarter valued at $1,096,000. Finally, New Mexico Educational Retirement Board increased its holdings in Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after buying an additional 2,400 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

Lockheed Martin Stock Performance

NYSE:LMT opened at $611.71 on Tuesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a market capitalization of $146.77 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 4.84 and a beta of 0.47. The company’s 50-day moving average is $573.36 and its two-hundred day moving average is $506.67. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $611.99.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.73 EPS. Analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. TD Cowen upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. UBS Group boosted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $587.15.

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.