Lockheed Martin Co. (NYSE:LMT) Shares Sold by Butensky & Cohen Financial Security Inc.

Butensky & Cohen Financial Security Inc. cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,620 shares of the aerospace company’s stock after selling 431 shares during the quarter. Lockheed Martin accounts for 1.6% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 18th largest position. Butensky & Cohen Financial Security Inc.’s holdings in Lockheed Martin were worth $4,429,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LMT. Lee Financial Co lifted its holdings in Lockheed Martin by 367.6% during the 1st quarter. Lee Financial Co now owns 477 shares of the aerospace company’s stock worth $210,000 after buying an additional 375 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Lockheed Martin by 240.0% during the 1st quarter. Vontobel Holding Ltd. now owns 4,124 shares of the aerospace company’s stock worth $1,821,000 after buying an additional 2,911 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Lockheed Martin by 56.8% in the 1st quarter. Sei Investments Co. now owns 23,153 shares of the aerospace company’s stock valued at $9,995,000 after purchasing an additional 8,389 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Lockheed Martin by 18.4% in the 1st quarter. NewEdge Advisors LLC now owns 28,807 shares of the aerospace company’s stock valued at $12,716,000 after purchasing an additional 4,472 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Lockheed Martin by 20.4% in the 1st quarter. Mackenzie Financial Corp now owns 107,366 shares of the aerospace company’s stock valued at $47,391,000 after purchasing an additional 18,201 shares in the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lockheed Martin

In other news, Director John Donovan bought 548 shares of Lockheed Martin stock in a transaction dated Wednesday, July 19th. The stock was bought at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the purchase, the director now owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LMT. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 19th. Wells Fargo & Company upgraded shares of Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 price objective on the stock in a report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $532.00 price objective on shares of Lockheed Martin in a report on Wednesday, July 19th. Citigroup reduced their price objective on shares of Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Finally, StockNews.com began coverage on shares of Lockheed Martin in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $499.43.

Lockheed Martin Trading Up 0.7 %

Shares of Lockheed Martin stock opened at $427.18 on Monday. Lockheed Martin Co. has a 1 year low of $381.55 and a 1 year high of $508.10. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.16 and a current ratio of 1.36. The company has a market capitalization of $107.58 billion, a P/E ratio of 15.60, a PEG ratio of 2.40 and a beta of 0.65. The company’s fifty day moving average is $447.76 and its two-hundred day moving average is $459.96.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.28. Lockheed Martin had a net margin of 10.48% and a return on equity of 71.67%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $15.92 billion. During the same period last year, the firm posted $6.32 EPS. Lockheed Martin’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts forecast that Lockheed Martin Co. will post 27.07 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Thursday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is presently 43.88%.

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, Rotary and Mission Systems, and Space.