Toronto Dominion Bank lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 98.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,124 shares of the aerospace company’s stock after selling 199,293 shares during the period. Toronto Dominion Bank’s holdings in Lockheed Martin were worth $55,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Benjamin Edwards Inc. boosted its position in shares of Lockheed Martin by 89.7% in the 1st quarter. Benjamin Edwards Inc. now owns 74 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Bay Harbor Wealth Management LLC purchased a new position in Lockheed Martin during the first quarter valued at approximately $25,000. Key Financial Inc purchased a new position in Lockheed Martin in the first quarter worth $26,000. MBE Wealth Management LLC purchased a new position in Lockheed Martin in the first quarter worth $29,000. Finally, PrairieView Partners LLC purchased a new position in Lockheed Martin in the first quarter worth $35,000. Institutional investors own 81.87% of the company’s stock.
Several equities analysts have issued reports on LMT shares. Bank of America lifted their price target on shares of Lockheed Martin from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Robert W. Baird lifted their price target on shares of Lockheed Martin from $371.00 to $453.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $350.00 to $395.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Royal Bank of Canada cut their price target on shares of Lockheed Martin from $410.00 to $404.00 in a report on Friday, July 17th. Finally, Argus lifted their price target on shares of Lockheed Martin from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $442.67.
NYSE LMT traded down $3.55 on Thursday, reaching $386.50. 37,934 shares of the company’s stock traded hands, compared to its average volume of 1,069,466. The firm has a market cap of $109.09 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 2.30 and a beta of 0.93. The stock has a 50 day moving average price of $374.22 and a 200-day moving average price of $378.39. Lockheed Martin Co. has a fifty-two week low of $266.11 and a fifty-two week high of $442.53. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.08 and a current ratio of 1.31.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 21st. The aerospace company reported $5.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $0.07. The company had revenue of $16.22 billion during the quarter, compared to the consensus estimate of $15.19 billion. Lockheed Martin had a net margin of 10.25% and a return on equity of 182.05%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.00 earnings per share. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 24.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be given a dividend of $2.40 per share. The ex-dividend date is Monday, August 31st. This represents a $9.60 dividend on an annualized basis and a yield of 2.48%. Lockheed Martin’s dividend payout ratio is presently 43.74%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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