Abner Herrman & Brock LLC lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.9% in the third quarter, Holdings Channel reports. The fund owned 54,648 shares of the aerospace company’s stock after selling 499 shares during the quarter. Lockheed Martin comprises 3.1% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 10th biggest holding. Abner Herrman & Brock LLC’s holdings in Lockheed Martin were worth $21,316,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Krane Funds Advisors LLC bought a new position in shares of Lockheed Martin in the second quarter worth about $26,000. Paragon Capital Management LLC boosted its stake in shares of Lockheed Martin by 406.7% in the second quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 61 shares during the period. Accurate Investment Solutions Inc. boosted its stake in shares of Lockheed Martin by 257.1% in the third quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 54 shares during the period. MRA Associates USA LLC bought a new position in shares of Lockheed Martin in the second quarter worth about $38,000. Finally, Trustcore Financial Services LLC boosted its stake in shares of Lockheed Martin by 245.5% in the second quarter. Trustcore Financial Services LLC now owns 114 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 81 shares during the period. Institutional investors own 78.32% of the company’s stock.
LMT stock traded down $2.74 during midday trading on Friday, reaching $384.14. 58,695 shares of the company traded hands, compared to its average volume of 1,134,452. 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 business has a 50 day moving average of $385.55 and a 200-day moving average of $354.26. The firm has a market capitalization of $107.91 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 2.53 and a beta of 0.96.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.26. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The business had revenue of $14.42 billion for the quarter, compared to the consensus estimate of $14.17 billion. During the same period in the prior year, the business posted $4.31 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts anticipate that Lockheed Martin Co. will post 21.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $2.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 dividend on an annualized basis and a yield of 2.50%. Lockheed Martin’s dividend payout ratio is 49.30%.
In other news, SVP Maryanne Lavan sold 1,003 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $365.50, for a total value of $366,596.50. Following 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 SEC, which is available at this link. Also, Director James D. Taiclet, Jr. purchased 1,354 shares of Lockheed Martin stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $376.32 per share, for a total transaction of $509,537.28. Following the completion of the acquisition, the director now owns 1,354 shares of the company’s stock, valued at approximately $509,537.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 22,503 shares of company stock worth $8,292,527. Company insiders own 0.35% of the company’s stock.
A number of equities analysts have recently weighed in on LMT shares. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. UBS Group increased their price target on Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Barclays reissued a “hold” rating and set a $410.00 price target on shares of Lockheed Martin in a research note on Wednesday. Credit Suisse Group increased their price target on Lockheed Martin from $379.00 to $401.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley increased their price target on Lockheed Martin from $376.00 to $381.00 and gave the company an “equal weight” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lockheed Martin has a consensus rating of “Buy” and a consensus price target of $372.64.
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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