Bruderman Asset Management LLC Sells 1,308 Shares of Lockheed Martin Co. (LMT)

Bruderman Asset Management LLC trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 19.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,430 shares of the aerospace company’s stock after selling 1,308 shares during the quarter. Bruderman Asset Management LLC’s holdings in Lockheed Martin were worth $1,604,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LMT. Financial Gravity Wealth Inc. acquired a new position in Lockheed Martin during the first quarter valued at approximately $359,000. Chicago Equity Partners LLC lifted its position in Lockheed Martin by 195.9% during the first quarter. Chicago Equity Partners LLC now owns 3,580 shares of the aerospace company’s stock valued at $1,210,000 after buying an additional 2,370 shares in the last quarter. King Luther Capital Management Corp lifted its position in Lockheed Martin by 70.3% during the first quarter. King Luther Capital Management Corp now owns 4,942 shares of the aerospace company’s stock valued at $1,670,000 after buying an additional 2,040 shares in the last quarter. Alpha Cubed Investments LLC lifted its position in Lockheed Martin by 4.8% during the first quarter. Alpha Cubed Investments LLC now owns 58,613 shares of the aerospace company’s stock valued at $19,807,000 after buying an additional 2,711 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Lockheed Martin by 3.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,578 shares of the aerospace company’s stock valued at $15,402,000 after buying an additional 1,517 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on LMT shares. Credit Suisse Group reduced their target price on shares of Lockheed Martin from $380.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 22nd. ValuEngine cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $343.00 target price on the stock in a research report on Wednesday, July 11th. Morgan Stanley reduced their target price on shares of Lockheed Martin from $370.00 to $352.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. Finally, Cowen raised shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 target price on the stock in a research report on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $372.02.

LMT opened at $335.80 on Friday. The firm has a market capitalization of $92.63 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.57 and a beta of 0.72. The company has a debt-to-equity ratio of 28.14, a quick ratio of 0.97 and a current ratio of 1.19. Lockheed Martin Co. has a 12-month low of $291.52 and a 12-month high of $363.00.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.39. The firm had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.72 billion. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 earnings per share. equities research analysts anticipate that Lockheed Martin Co. will post 17.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be issued a $2.00 dividend. The ex-dividend date is Friday, August 31st. This represents a $8.00 annualized dividend and a yield of 2.38%. Lockheed Martin’s dividend payout ratio is presently 60.02%.

In related news, SVP Maryanne Lavan sold 7,250 shares of the company’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total value of $2,346,390.00. Following the sale, the senior vice president now directly owns 9,869 shares of the company’s stock, valued at $3,194,003.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marillyn A. Hewson sold 25,000 shares of the company’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $323.68, for a total transaction of $8,092,000.00. Following the completion of the sale, the chairman now directly owns 90,625 shares in the company, valued at $29,333,500. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

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 (MFC), Rotary and Mission Systems (RMS), and Space.

Read More: Fundamental Analysis

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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