Amalgamated Bank Sells 2,443 Shares of Lockheed Martin Co. (NYSE:LMT)

Amalgamated Bank cut its stake in Lockheed Martin Co. (NYSE:LMT) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,088 shares of the aerospace company’s stock after selling 2,443 shares during the quarter. Amalgamated Bank’s holdings in Lockheed Martin were worth $20,594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the last quarter. Morningstar Investment Services LLC increased 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 valued at $66,697,000 after acquiring an additional 73,774 shares during the last quarter. Brevan Howard Capital Management LP grew its position 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 valued at $3,228,000 after purchasing an additional 5,736 shares during the period. New Mexico Educational Retirement Board grew its position 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 valued at $6,222,000 after purchasing an additional 2,400 shares during the period. Finally, American National Bank grew its position in shares of Lockheed Martin by 26.8% in the 1st quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock valued at $16,638,000 after purchasing an additional 7,731 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Down 1.0 %

LMT opened at $567.07 on Wednesday. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $578.73. The stock’s fifty day simple moving average is $539.25 and its 200 day simple moving average is $486.27. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock has a market cap of $136.06 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results 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. 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 analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the business earned $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Analysts Set New Price Targets

LMT has been the subject of several research analyst reports. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley upped their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. Finally, UBS Group upped their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $553.43.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the 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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

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.