Ancora Advisors LLC Has $1.02 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Ancora Advisors LLC trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,246 shares of the aerospace company’s stock after selling 117 shares during the period. Ancora Advisors LLC’s holdings in Lockheed Martin were worth $1,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LMT. International Assets Investment Management LLC boosted its holdings in Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after purchasing an additional 1,349,409 shares during the last quarter. Van ECK Associates Corp increased its holdings in Lockheed Martin by 1,075.2% in the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after buying an additional 440,169 shares during the period. Franklin Resources Inc. boosted its stake in shares of Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in Lockheed Martin during the 1st quarter worth approximately $151,402,000. Finally, Corient Private Wealth LLC boosted its position in Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after buying an additional 274,680 shares during the period. 74.19% of the stock is owned by institutional investors.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on LMT shares. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. UBS Group raised their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Barclays raised their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Bank of America raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $465.00 to $635.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $526.77.

Lockheed Martin Trading Up 0.8 %

NYSE:LMT traded up $4.26 during midday trading on Wednesday, reaching $541.92. 1,478,220 shares of the stock traded hands, compared to its average volume of 1,087,764. The company has a fifty day moving average of $472.18 and a 200 day moving average of $454.93. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $547.00. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market capitalization of $129.17 billion, a P/E ratio of 19.77, a PEG ratio of 4.65 and a beta of 0.46.

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 the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $6.73 EPS. On average, research analysts predict that Lockheed Martin Co. will post 26.73 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

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.