CNB Bank Decreases Position in Lockheed Martin Co. (NYSE:LMT)

CNB Bank cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 9.7% during the third quarter, HoldingsChannel.com reports. The fund owned 2,194 shares of the aerospace company’s stock after selling 237 shares during the period. CNB Bank’s holdings in Lockheed Martin were worth $1,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter worth about $27,000. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC boosted its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin in the 1st quarter valued at approximately $30,000. Finally, Stephens Consulting LLC raised its position in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LMT. TD Cowen raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada increased their price target on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $597.92.

Lockheed Martin Stock Up 0.4 %

Shares of NYSE LMT opened at $611.81 on Friday. The stock has a market capitalization of $146.80 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $614.62. The firm has a 50-day moving average price of $578.29 and a 200 day moving average price of $510.67. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the company earned $6.73 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was 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 approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

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