Laurel Grove Capital LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,920 shares of the aerospace company’s stock after selling 775 shares during the quarter. Lockheed Martin accounts for 4.4% of Laurel Grove Capital LLC’s holdings, making the stock its 3rd biggest holding. Laurel Grove Capital LLC’s holdings in Lockheed Martin were worth $8,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Franklin Street Advisors Inc. NC grew its holdings in shares of Lockheed Martin by 0.6% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 26,660 shares of the aerospace company’s stock worth $7,876,000 after purchasing an additional 168 shares in the last quarter. OLD National Bancorp IN grew its holdings in shares of Lockheed Martin by 1.4% during the 2nd quarter. OLD National Bancorp IN now owns 12,154 shares of the aerospace company’s stock worth $3,591,000 after purchasing an additional 170 shares in the last quarter. Summit Financial Strategies Inc. grew its holdings in shares of Lockheed Martin by 19.4% during the 2nd quarter. Summit Financial Strategies Inc. now owns 1,046 shares of the aerospace company’s stock worth $309,000 after purchasing an additional 170 shares in the last quarter. WealthPLAN Partners LLC grew its holdings in shares of Lockheed Martin by 11.4% during the 1st quarter. WealthPLAN Partners LLC now owns 1,705 shares of the aerospace company’s stock worth $576,000 after purchasing an additional 175 shares in the last quarter. Finally, Braun Bostich & Associates Inc. grew its holdings in shares of Lockheed Martin by 39.5% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 643 shares of the aerospace company’s stock worth $190,000 after purchasing an additional 182 shares in the last quarter. 77.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LMT stock opened at $327.62 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.19 and a debt-to-equity ratio of 28.14. Lockheed Martin Co. has a twelve month low of $291.52 and a twelve month high of $363.00. The firm has a market cap of $98.52 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.71.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.39. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The business had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $12.72 billion. During the same period in the prior year, the company earned $3.23 EPS. Lockheed Martin’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts expect that Lockheed Martin Co. will post 17.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be given a $2.20 dividend. The ex-dividend date of this dividend is Friday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 annualized dividend and a yield of 2.69%. Lockheed Martin’s dividend payout ratio (DPR) is currently 60.02%.

Lockheed Martin declared that its board has approved a stock repurchase plan on Thursday, September 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Several analysts have recently issued reports on LMT shares. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $343.00 target price on the stock in a report on Wednesday, July 11th. Morgan Stanley reduced their target price on Lockheed Martin from $370.00 to $352.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Cowen raised Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 target price on the stock in a report on Wednesday, July 25th. Stifel Nicolaus dropped their price objective on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. Finally, Sanford C. Bernstein upped their price objective on Lockheed Martin from $349.00 to $356.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $377.14.

In other Lockheed Martin news, SVP Maryanne Lavan sold 7,250 shares of the stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total value of $2,346,390.00. Following the completion of the transaction, the senior vice president now directly owns 9,869 shares in the company, valued at $3,194,003.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marillyn A. Hewson sold 25,000 shares of the stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $323.68, for a total value of $8,092,000.00. Following the completion of the transaction, the chairman now owns 90,625 shares of the company’s stock, valued at $29,333,500. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

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

See Also: Asset Allocation

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

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