Strategic Wealth Partners Ltd. trimmed its holdings in Lockheed Martin Co. (NYSE:LMT – Get Rating) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,145 shares of the aerospace company’s stock after selling 962 shares during the quarter. Lockheed Martin makes up about 1.1% of Strategic Wealth Partners Ltd.’s holdings, making the stock its 15th biggest position. Strategic Wealth Partners Ltd.’s holdings in Lockheed Martin were worth $5,802,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Dakota Wealth Management increased its stake in Lockheed Martin by 83.4% in the first quarter. Dakota Wealth Management now owns 1,977 shares of the aerospace company’s stock valued at $873,000 after purchasing an additional 899 shares during the period. Davis R M Inc. acquired a new position in Lockheed Martin in the 1st quarter valued at about $522,000. Dumont & Blake Investment Advisors LLC acquired a new position in Lockheed Martin in the 1st quarter valued at about $262,000. City State Bank acquired a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $643,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Lockheed Martin by 710.8% in the first quarter. Exchange Traded Concepts LLC now owns 13,532 shares of the aerospace company’s stock valued at $5,973,000 after purchasing an additional 11,863 shares during the period. 75.50% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Lockheed Martin
In related news, Director John Donovan acquired 632 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were acquired at an average price of $396.16 per share, with a total value of $250,373.12. Following the completion of the purchase, the director now directly owns 1,200 shares in the company, valued at $475,392. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Gregory M. Ulmer sold 6,929 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Donovan bought 632 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were purchased at an average price of $396.16 per share, for a total transaction of $250,373.12. Following the transaction, the director now owns 1,200 shares of the company’s stock, valued at approximately $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.
Lockheed Martin Stock Performance
Lockheed Martin (NYSE:LMT – Get Rating) last issued its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). The business had revenue of $15.45 billion during the quarter, compared to analyst estimates of $16.02 billion. Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. Lockheed Martin’s revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $7.13 earnings per share. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.8 EPS for the current fiscal year.
Lockheed Martin Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be issued a dividend of $2.80 per share. This represents a $11.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Wednesday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is presently 64.81%.
Wall Street Analyst Weigh In
LMT has been the topic of a number of recent research reports. Royal Bank of Canada initiated 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. Wells Fargo & Company dropped their price target on shares of Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Finally, Morgan Stanley dropped their price target on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $448.92.
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.
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