Bard Financial Services Inc. Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Bard Financial Services Inc. decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 48.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,055 shares of the aerospace company’s stock after selling 13,424 shares during the period. Lockheed Martin comprises about 1.7% of Bard Financial Services Inc.’s investment portfolio, making the stock its 10th biggest position. Bard Financial Services Inc.’s holdings in Lockheed Martin were worth $8,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC purchased a new stake in Lockheed Martin in the second quarter valued at approximately $6,611,000. Verity & Verity LLC boosted its position in Lockheed Martin by 3.2% during the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares during the period. Brevan Howard Capital Management LP increased its stake in Lockheed Martin by 414.2% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after acquiring an additional 5,736 shares during the period. Finally, New Mexico Educational Retirement Board increased 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 buying an additional 2,400 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred 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 $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT traded down $0.69 during mid-day trading on Friday, reaching $605.13. The company’s stock had a trading volume of 560,051 shares, compared to its average volume of 1,065,046. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $611.49. The stock has a fifty day moving average of $565.71 and a two-hundred day moving average of $499.21. The firm has a market capitalization of $145.19 billion, a PE ratio of 22.14, a P/E/G ratio of 4.66 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) 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 firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter last year, the firm earned $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analyst Ratings Changes

A number of research firms have recently commented on LMT. UBS Group raised their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $500.00 to $600.00 in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $562.54.

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.