Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Heritage Trust Co

Key Points

• Heritage Trust Co sold 3,145 shares of Lockheed Martin, reducing its position by 55.7%, leaving it with 2,504 shares valued at over $1.1 million as of the latest SEC filing.
• Lockheed Martin reported earnings of $7.29 per share for the last quarter, exceeding analysts' expectations, while revenues increased by 0.2% year-over-year to $18.16 billion.
• The company declared a quarterly dividend of $3.30 per share, representing a 3.1% yield, with a payment date set for September 26th for stockholders who own shares by September 2nd.

Heritage Trust Co decreased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 55.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,504 shares of the aerospace company's stock after selling 3,145 shares during the quarter. Heritage Trust Co's holdings in Lockheed Martin were worth $1,119,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of LMT. Manchester Capital Management LLC lifted its holdings in Lockheed Martin by 7.5% in the first quarter. Manchester Capital Management LLC now owns 1,126 shares of the aerospace company's stock worth $503,000 after purchasing an additional 79 shares during the period. Cheviot Value Management LLC acquired a new stake in Lockheed Martin in the first quarter worth about $131,000. Liberty Wealth Management LLC lifted its holdings in Lockheed Martin by 709.4% in the first quarter. Liberty Wealth Management LLC now owns 12,368 shares of the aerospace company's stock worth $5,525,000 after purchasing an additional 10,840 shares during the period. Bank of Nova Scotia lifted its holdings in Lockheed Martin by 322.7% in the first quarter. Bank of Nova Scotia now owns 124,082 shares of the aerospace company's stock worth $55,427,000 after purchasing an additional 94,729 shares during the period. Finally, Pathway Financial Advisers LLC lifted its holdings in Lockheed Martin by 5.6% in the first quarter. Pathway Financial Advisers LLC now owns 10,395 shares of the aerospace company's stock worth $4,644,000 after purchasing an additional 551 shares during the period. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Down 0.0%

Shares of Lockheed Martin stock opened at $420.97 on Monday. The stock has a market capitalization of $98.28 billion, a P/E ratio of 23.70, a PEG ratio of 1.48 and a beta of 0.27. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The stock has a 50 day moving average price of $460.68 and a two-hundred day moving average price of $460.50. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.11 earnings per share. Equities analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 74.32%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LMT shares. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. UBS Group cut their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Robert W. Baird cut their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target for the company in a report on Wednesday, April 16th. Finally, Jefferies Financial Group cut their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Fifteen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $506.65.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

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