Lockheed Martin Co. (NYSE:LMT) Stake Reduced by Brookstone Capital Management

Brookstone Capital Management cut its holdings in Lockheed Martin Co. (NYSE:LMTGet Rating) by 27.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,763 shares of the aerospace company’s stock after selling 8,853 shares during the quarter. Brookstone Capital Management’s holdings in Lockheed Martin were worth $9,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Lockheed Martin by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 22,579,851 shares of the aerospace company’s stock worth $9,966,746,000 after buying an additional 1,727,343 shares during the period. BlackRock Inc. raised its holdings in Lockheed Martin by 1.4% during the 1st quarter. BlackRock Inc. now owns 17,800,565 shares of the aerospace company’s stock worth $7,857,169,000 after buying an additional 239,584 shares during the period. Capital World Investors raised its holdings in Lockheed Martin by 19.0% during the 1st quarter. Capital World Investors now owns 16,021,414 shares of the aerospace company’s stock worth $7,071,954,000 after buying an additional 2,558,881 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,256,069 shares of the aerospace company’s stock worth $2,320,030,000 after buying an additional 264,665 shares during the period. Finally, Capital Research Global Investors raised its holdings in Lockheed Martin by 5.9% during the 1st quarter. Capital Research Global Investors now owns 3,482,769 shares of the aerospace company’s stock worth $1,537,294,000 after buying an additional 194,371 shares during the period. 75.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LMT. Wells Fargo & Company cut their price objective on Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 20th. Morgan Stanley cut their price objective on Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Finally, Royal Bank of Canada started coverage on Lockheed Martin in a report on Monday, August 29th. They issued a “sector perform” rating and a $460.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $448.92.

Lockheed Martin Trading Up 0.2 %

Shares of NYSE LMT opened at $414.29 on Monday. The stock has a market cap of $109.85 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.84 and a beta of 0.66. The business has a 50 day simple moving average of $418.99 and a 200 day simple moving average of $432.12. Lockheed Martin Co. has a 52 week low of $324.23 and a 52 week high of $479.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.06 and a current ratio of 1.27.

Lockheed Martin (NYSE:LMTGet Rating) last announced its quarterly earnings results on Tuesday, July 19th. The aerospace company reported $1.16 EPS for the quarter, missing the consensus estimate of $6.39 by ($5.23). The firm had revenue of $15.45 billion during the quarter, compared to the consensus estimate of $16.02 billion. Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.13 EPS. On average, research analysts predict that Lockheed Martin Co. will post 26.8 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be paid a $2.80 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $11.20 annualized dividend and a dividend yield of 2.70%. Lockheed Martin’s payout ratio is 64.81%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, EVP Gregory M. Ulmer sold 6,929 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total transaction of $2,936,995.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lockheed Martin news, EVP Gregory M. Ulmer sold 6,929 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total transaction of $2,936,995.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Donovan bought 632 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were bought at an average cost of $396.16 per share, with a total value of $250,373.12. Following the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

About Lockheed Martin

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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, Rotary and Mission Systems, and Space.

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

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