Cobblestone Capital Advisors LLC NY Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Cobblestone Capital Advisors LLC NY trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,062 shares of the aerospace company’s stock after selling 143 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Lockheed Martin were worth $1,897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LMT. GAMMA Investing LLC boosted its stake in Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the period. Warther Private Wealth LLC lifted its stake in shares of Lockheed Martin by 86.1% in the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after acquiring an additional 7,575 shares during the period. Morningstar Investment Services LLC lifted its stake in shares of Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after acquiring an additional 73,774 shares during the period. Brevan Howard Capital Management LP lifted its stake in shares of Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after acquiring an additional 5,736 shares during the period. Finally, New Mexico Educational Retirement Board lifted its stake in shares of Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after acquiring an additional 2,400 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.3 %

Shares of NYSE:LMT traded down $1.96 during trading on Friday, reaching $566.63. The stock had a trading volume of 976,688 shares, compared to its average volume of 1,069,765. The business has a fifty day moving average price of $524.33 and a 200-day moving average price of $478.58. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a market cap of $135.96 billion, a P/E ratio of 20.74, a PEG ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.73 earnings per share. As a group, analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on LMT shares. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

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.