First PREMIER Bank Decreases Holdings in Lockheed Martin Co. (NYSE:LMT)

First PREMIER Bank lowered its position in Lockheed Martin Co. (NYSE:LMT) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,995 shares of the aerospace company’s stock after selling 50 shares during the quarter. First PREMIER Bank’s holdings in Lockheed Martin were worth $932,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Pacific Financial bought a new position in shares of Lockheed Martin in the first quarter valued at approximately $25,000. Altshuler Shaham Ltd bought a new position in shares of Lockheed Martin during the 4th quarter worth about $26,000. Wiser Advisor Group LLC lifted its holdings in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Thompson Investment Management Inc. acquired a new stake in Lockheed Martin in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Price Performance

Shares of LMT stock traded down $2.93 during trading on Thursday, hitting $560.29. The company had a trading volume of 920,590 shares, compared to its average volume of 1,087,462. 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 stock’s 50-day moving average is $492.85 and its two-hundred day moving average is $463.41. The stock has a market capitalization of $134.43 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $564.22.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.25%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analysts Set New Price Targets

LMT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and upped their price target for the company from $465.00 to $635.00 in a research note on Wednesday, July 31st. UBS Group upped their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Susquehanna raised their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $541.85.

About Lockheed Martin

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.