First Western Trust Bank Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

First Western Trust Bank cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 2,565 shares of the aerospace company’s stock after selling 25 shares during the quarter. First Western Trust Bank’s holdings in Lockheed Martin were worth $1,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HTLF Bank boosted its stake in Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 20 shares in the last quarter. Goldstein Advisors LLC lifted its stake in shares of Lockheed Martin by 1.2% during the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after buying an additional 21 shares during the period. Hudock Inc. lifted its stake in shares of Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after buying an additional 22 shares during the period. Lester Murray Antman dba SimplyRich grew its holdings in shares of Lockheed Martin by 0.8% during the second quarter. Lester Murray Antman dba SimplyRich now owns 2,765 shares of the aerospace company’s stock valued at $1,291,000 after buying an additional 22 shares during the last quarter. Finally, Stephens Consulting LLC raised its stake in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 1.1 %

LMT stock opened at $568.59 on Friday. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $578.73. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market cap of $136.43 billion, a P/E ratio of 20.80, a PEG ratio of 4.56 and a beta of 0.46. The company’s 50-day simple moving average is $522.34 and its 200-day simple moving average is $477.58.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The company 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%. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.73 earnings per share. As a group, equities analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is presently 46.10%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LMT. Wells Fargo & Company boosted their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. Morgan Stanley upped their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company 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.