Connors Investor Services Inc. Has $4.79 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Connors Investor Services Inc. decreased its position in Lockheed Martin Co. (NYSE:LMT) by 49.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,177 shares of the aerospace company’s stock after selling 12,975 shares during the period. Connors Investor Services Inc.’s holdings in Lockheed Martin were worth $4,790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its holdings in shares of Lockheed Martin by 0.5% in the 2nd quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock valued at $1,957,000 after acquiring an additional 28 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Lockheed Martin by 12.0% in the 2nd quarter. Independence Bank of Kentucky now owns 280 shares of the aerospace company’s stock valued at $102,000 after acquiring an additional 30 shares in the last quarter. Granite Investment Partners LLC grew its holdings in shares of Lockheed Martin by 0.3% in the 2nd quarter. Granite Investment Partners LLC now owns 10,622 shares of the aerospace company’s stock valued at $3,862,000 after acquiring an additional 30 shares in the last quarter. Marietta Wealth Management LLC grew its holdings in shares of Lockheed Martin by 0.9% in the 2nd quarter. Marietta Wealth Management LLC now owns 3,496 shares of the aerospace company’s stock valued at $1,271,000 after acquiring an additional 30 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Lockheed Martin by 1.3% in the 2nd quarter. Assetmark Inc. now owns 2,438 shares of the aerospace company’s stock valued at $886,000 after acquiring an additional 31 shares in the last quarter. 78.33% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin stock traded down $1.07 during midday trading on Thursday, reaching $395.97. 236,624 shares of the company’s stock were exchanged, compared to its average volume of 914,100. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96. The company has a debt-to-equity ratio of 4.36, a quick ratio of 0.96 and a current ratio of 1.20. The firm has a market cap of $110.89 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 2.61 and a beta of 0.95. The stock’s 50-day simple moving average is $378.60 and its 200 day simple moving average is $344.82.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.26. The business had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. Lockheed Martin’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $4.31 earnings per share. Research analysts forecast that Lockheed Martin Co. will post 21.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $2.20 per share. The ex-dividend date is Friday, August 30th. This represents a $8.80 annualized dividend and a yield of 2.22%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.

In other Lockheed Martin news, SVP Maryanne Lavan sold 1,003 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the sale, the senior vice president now directly owns 1,478 shares in the company, valued at $540,209. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth R. Possenriede sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $363.85, for a total transaction of $727,700.00. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock valued at $8,292,527 over the last 90 days. Company insiders own 0.35% of the company’s stock.

Several equities analysts have recently weighed in on LMT shares. DZ Bank restated a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Credit Suisse Group raised their price objective on Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. UBS Group lifted their price target on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley lifted their price target on Lockheed Martin from $356.00 to $376.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Lockheed Martin currently has a consensus rating of “Buy” and a consensus price target of $367.86.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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