Toronto Dominion Bank cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 24.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,895 shares of the aerospace company’s stock after selling 49,522 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Lockheed Martin worth $55,432,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LMT. Bay Harbor Wealth Management LLC acquired a new stake in Lockheed Martin during the first quarter valued at approximately $25,000. Proffitt & Goodson Inc. lifted its stake in Lockheed Martin by 58.2% during the second quarter. Proffitt & Goodson Inc. now owns 106 shares of the aerospace company’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Front Row Advisors LLC acquired a new position in shares of Lockheed Martin in the first quarter worth about $43,000. Hoover Financial Advisors Inc. purchased a new position in Lockheed Martin during the 2nd quarter worth approximately $45,000. Finally, Fred Alger Management LLC raised its stake in Lockheed Martin by 51.2% during the 1st quarter. Fred Alger Management LLC now owns 127 shares of the aerospace company’s stock valued at $43,000 after purchasing an additional 43 shares during the period. 77.56% of the stock is owned by institutional investors.

Several research analysts have weighed in on the stock. Argus upped their price objective on shares of Lockheed Martin from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Credit Suisse Group dropped their price objective on Lockheed Martin from $433.00 to $400.00 and set a “hold” rating on the stock in a report on Friday, July 17th. Morgan Stanley began coverage on shares of Lockheed Martin in a research report on Tuesday, September 8th. They issued an “overweight” rating and a $509.00 target price for the company. Seaport Global Securities initiated coverage on shares of Lockheed Martin in a report on Tuesday, May 19th. They set a “buy” rating and a $435.00 price target on the stock. Finally, ValuEngine upgraded shares of Lockheed Martin from a “sell” rating to a “hold” rating in a report on Wednesday, August 26th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Lockheed Martin presently has an average rating of “Buy” and a consensus target price of $448.33.

LMT stock traded up $2.65 on Wednesday, reaching $395.20. 45,528 shares of the company were exchanged, compared to its average volume of 1,538,763. The firm has a market capitalization of $109.73 billion, a PE ratio of 17.41, a PEG ratio of 2.29 and a beta of 0.93. Lockheed Martin Co. has a 12 month low of $266.11 and a 12 month high of $442.53. The stock’s fifty day moving average price is $387.82 and its 200 day moving average price is $372.66. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.31 and a quick ratio of 1.08.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $5.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.07. The company had revenue of $16.22 billion for the quarter, compared to analyst estimates of $15.19 billion. Lockheed Martin had a net margin of 10.25% and a return on equity of 182.05%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $5.00 EPS. As a group, research analysts expect that Lockheed Martin Co. will post 24.52 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be given a $2.40 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.43%. Lockheed Martin’s dividend payout ratio is currently 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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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