Greenleaf Trust lowered its position in Lockheed Martin Co. (NYSE:LMT) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,782 shares of the aerospace company’s stock after selling 243 shares during the quarter. Greenleaf Trust’s holdings in Lockheed Martin were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Lockheed Martin by 1.8% in the first quarter. Geode Capital Management LLC now owns 4,141,309 shares of the aerospace company’s stock valued at $1,526,520,000 after purchasing an additional 73,845 shares during the period. Morgan Stanley increased its stake in shares of Lockheed Martin by 15.8% in the first quarter. Morgan Stanley now owns 4,018,123 shares of the aerospace company’s stock valued at $1,484,697,000 after purchasing an additional 546,951 shares during the period. Ameriprise Financial Inc. increased its position in shares of Lockheed Martin by 4.9% during the 1st quarter. Ameriprise Financial Inc. now owns 2,630,721 shares of the aerospace company’s stock valued at $972,175,000 after purchasing an additional 122,509 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Lockheed Martin by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 2,598,091 shares of the aerospace company’s stock valued at $959,995,000 after buying an additional 49,887 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Lockheed Martin by 28.8% in the first quarter. Franklin Resources Inc. now owns 2,555,481 shares of the aerospace company’s stock valued at $944,253,000 after buying an additional 571,986 shares during the period. Institutional investors own 74.51% of the company’s stock.
A number of equities research analysts have recently issued reports on LMT shares. Wells Fargo & Company boosted their target price on Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 27th. Credit Suisse Group reissued a “neutral” rating and set a $370.20 price target (down from $394.00) on shares of Lockheed Martin in a research report on Tuesday, July 27th. Finally, Jefferies Financial Group reissued a “neutral” rating on shares of Lockheed Martin in a research report on Friday, September 10th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $400.87.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Sunday, July 25th. The aerospace company reported $6.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.53 by ($0.01). The company had revenue of $17.03 billion for the quarter, compared to the consensus estimate of $16.93 billion. Lockheed Martin had a return on equity of 123.35% and a net margin of 10.69%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.79 EPS. As a group, equities analysts forecast that Lockheed Martin Co. will post 23.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Wednesday, September 1st will be paid a dividend of $2.60 per share. The ex-dividend date is Tuesday, August 31st. This represents a $10.40 annualized dividend and a yield of 3.06%. Lockheed Martin’s payout ratio is 41.87%.
About Lockheed Martin
Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.
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