Bahl & Gaynor Inc. Decreases Holdings in Lockheed Martin Co. (NYSE:LMT)

Bahl & Gaynor Inc. cut its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 559,618 shares of the aerospace company's stock after selling 10,782 shares during the quarter. Lockheed Martin accounts for about 1.5% of Bahl & Gaynor Inc.'s portfolio, making the stock its 21st biggest holding. Bahl & Gaynor Inc. owned about 0.23% of Lockheed Martin worth $261,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. HTLF Bank increased its stake in shares of Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company's stock valued at $264,000 after purchasing an additional 20 shares during the last quarter. tru Independence LLC grew its position in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company's stock worth $386,000 after acquiring an additional 20 shares during the last quarter. Sachetta LLC grew its position in Lockheed Martin by 50.0% during 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. Goldstein Advisors LLC grew its position in Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company's stock worth $809,000 after acquiring an additional 21 shares during the last quarter. Finally, Hudock Inc. raised its position in shares of Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company's stock worth $801,000 after acquiring an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on LMT. TD Cowen raised Lockheed Martin from a "hold" rating to a "buy" rating and boosted their price target for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. UBS Group lifted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. Melius raised Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, Susquehanna lifted their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a "positive" rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $553.43.

Insider Activity 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 shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company's stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $5.23 on Wednesday, reaching $566.96. The stock had a trading volume of 797,478 shares, compared to its average volume of 1,065,002. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73. The company has a market cap of $135.14 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. 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 business's 50 day moving average is $528.67 and its two-hundred day moving average is $481.35.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its 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. The business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin's quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $6.73 earnings per share. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin's dividend payout ratio is currently 46.10%.

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.