Lockheed Martin Co. (NYSE:LMT) Holdings Boosted by American National Bank

American National Bank boosted its position in Lockheed Martin Co. (NYSE:LMT) by 20.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,354 shares of the aerospace company’s stock after buying an additional 4,723 shares during the period. Lockheed Martin makes up approximately 2.2% of American National Bank’s portfolio, making the stock its 9th largest holding. American National Bank’s holdings in Lockheed Martin were worth $13,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Argent Trust Co boosted its position in shares of Lockheed Martin by 1.6% in the 1st quarter. Argent Trust Co now owns 33,538 shares of the aerospace company’s stock worth $15,854,000 after buying an additional 535 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Lockheed Martin by 8.8% in the 1st quarter. Merit Financial Group LLC now owns 7,358 shares of the aerospace company’s stock worth $3,478,000 after buying an additional 596 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new position in Lockheed Martin in the 1st quarter valued at about $6,709,000. Park National Corp OH raised its stake in Lockheed Martin by 41.1% in the 2nd quarter. Park National Corp OH now owns 46,614 shares of the aerospace company’s stock valued at $21,460,000 after purchasing an additional 13,567 shares during the last quarter. Finally, Fulcrum Equity Management raised its stake in Lockheed Martin by 69.5% in the 2nd quarter. Fulcrum Equity Management now owns 756 shares of the aerospace company’s stock valued at $348,000 after purchasing an additional 310 shares during the last quarter. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Susquehanna cut their target price on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, July 19th. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 19th. StockNews.com began coverage on shares of Lockheed Martin in a research note on Thursday, August 17th. They set a “buy” rating for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $532.00 price objective on shares of Lockheed Martin in a research note on Wednesday, July 19th. Finally, Citigroup decreased their target price on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average target price of $499.43.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $429.69 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 1.87. The stock has a market cap of $108.21 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 2.41 and a beta of 0.65. Lockheed Martin Co. has a 52 week low of $381.55 and a 52 week high of $508.10. The stock has a 50 day moving average of $447.76 and a 200-day moving average of $459.96.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.28. The business had revenue of $16.69 billion for the quarter, compared to analyst estimates of $15.92 billion. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $6.32 EPS. On average, analysts expect that Lockheed Martin Co. will post 27.07 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, August 31st. Lockheed Martin’s dividend payout ratio is currently 43.88%.

Insiders Place Their Bets

In related news, Director John Donovan bought 548 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were purchased at an average cost of $457.07 per share, with a total value of $250,474.36. Following the completion of the transaction, the director now directly owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.