CNB Bank Has $1.28 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

CNB Bank lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,194 shares of the aerospace company’s stock after selling 237 shares during the period. CNB Bank’s holdings in Lockheed Martin were worth $1,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC lifted its stake in shares of Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after acquiring an additional 17 shares during the last quarter. Quad Cities Investment Group LLC lifted its position in shares of Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares during the last quarter. HTLF Bank boosted its stake in shares of Lockheed Martin by 3.7% during the second 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 period. tru Independence LLC grew its holdings in shares of Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares during the last quarter. Finally, Sachetta LLC increased its stake in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LMT. Susquehanna boosted their price objective on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research report on Thursday. Citigroup boosted their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. UBS Group upped their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Barclays raised their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $597.92.

Lockheed Martin Price Performance

LMT opened at $611.81 on Friday. The firm has a market capitalization of $146.80 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The business’s 50-day moving average is $578.29 and its two-hundred day moving average is $510.67. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $614.62. 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 posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the business posted $6.73 EPS. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.16%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 48.30%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin 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 transaction of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

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.