Adirondack Trust Co. Decreases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Adirondack Trust Co. cut its stake in Lockheed Martin Co. (NYSE:LMT) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,954 shares of the aerospace company’s stock after selling 630 shares during the period. Lockheed Martin comprises about 1.4% of Adirondack Trust Co.’s holdings, making the stock its 21st largest holding. Adirondack Trust Co.’s holdings in Lockheed Martin were worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in LMT. CSat Investment Advisory L.P. lifted its holdings in Lockheed Martin by 2,992.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 433 shares of the aerospace company’s stock worth $158,000 after buying an additional 419 shares during the last quarter. Haverford Trust Co. lifted its holdings in Lockheed Martin by 6.4% during the 2nd quarter. Haverford Trust Co. now owns 33,538 shares of the aerospace company’s stock worth $12,192,000 after buying an additional 2,011 shares during the last quarter. Lucia Wealth Services LLC lifted its holdings in Lockheed Martin by 78.5% during the 2nd quarter. Lucia Wealth Services LLC now owns 191 shares of the aerospace company’s stock worth $69,000 after buying an additional 84 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in Lockheed Martin by 44.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,252 shares of the aerospace company’s stock worth $455,000 after buying an additional 386 shares during the last quarter. Finally, Cibc World Markets Corp lifted its holdings in Lockheed Martin by 67.1% during the 2nd quarter. Cibc World Markets Corp now owns 69,474 shares of the aerospace company’s stock worth $25,257,000 after buying an additional 27,901 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

A number of brokerages have issued reports on LMT. JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their price target on Lockheed Martin from $356.00 to $376.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Credit Suisse Group lifted their price target on Lockheed Martin from $369.00 to $379.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. UBS Group lifted their price target on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Lockheed Martin presently has an average rating of “Buy” and a consensus price target of $370.71.

In related news, Director James D. Taiclet, Jr. purchased 1,354 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $376.32 per share, for a total transaction of $509,537.28. Following the transaction, the director now directly owns 1,354 shares of the company’s stock, valued at approximately $509,537.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth R. Possenriede sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $363.85, for a total value of $727,700.00. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock worth $8,292,527 in the last quarter. Insiders own 0.35% of the company’s stock.

Shares of LMT traded up $2.49 during midday trading on Wednesday, reaching $384.61. 708,027 shares of the stock were exchanged, compared to its average volume of 1,181,674. The business’s 50-day moving average price is $385.46 and its 200 day moving average price is $353.80. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.20 and a quick ratio of 0.96. Lockheed Martin Co. has a twelve month low of $241.18 and a twelve month high of $399.96. The company has a market capitalization of $108.61 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.55 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a return on equity of 297.37% and a net margin of 10.18%. The business had revenue of $14.42 billion for the quarter, compared to analysts’ expectations of $14.17 billion. During the same quarter in the previous year, the firm earned $4.31 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 21.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.40 per share. The ex-dividend date is Friday, November 29th. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.50%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s payout ratio is 49.30%.

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 (MFC), Rotary and Mission Systems (RMS), and Space.

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

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