Argent Trust Co lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 82.4% during the first quarter, Holdings Channel reports. The fund owned 30,266 shares of the aerospace company’s stock after buying an additional 13,669 shares during the quarter. Argent Trust Co’s holdings in Lockheed Martin were worth $11,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lockheed Martin by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,620 shares of the aerospace company’s stock worth $1,751,000 after acquiring an additional 98 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Lockheed Martin by 20.2% in the first quarter. JPMorgan Chase & Co. now owns 395,330 shares of the aerospace company’s stock worth $146,075,000 after acquiring an additional 66,457 shares during the period. CIBC Private Wealth Group LLC grew its position in Lockheed Martin by 4.5% during the first quarter. CIBC Private Wealth Group LLC now owns 186,139 shares of the aerospace company’s stock valued at $68,778,000 after buying an additional 8,074 shares during the period. Quilter Plc grew its position in Lockheed Martin by 982.5% during the first quarter. Quilter Plc now owns 9,039 shares of the aerospace company’s stock valued at $3,340,000 after buying an additional 8,204 shares during the period. Finally, MV Capital Management Inc. grew its position in Lockheed Martin by 10.8% during the first quarter. MV Capital Management Inc. now owns 5,165 shares of the aerospace company’s stock valued at $1,908,000 after buying an additional 505 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.
In related news, EVP Richard F. Ambrose sold 3,446 shares of the firm’s stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $377.38, for a total transaction of $1,300,451.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth R. Possenriede sold 2,787 shares of the firm’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $387.53, for a total transaction of $1,080,046.11. Following the sale, the chief financial officer now owns 1 shares of the company’s stock, valued at $387.53. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,494 shares of company stock worth $7,005,254. Insiders own 0.18% of the company’s stock.
LMT traded down $0.91 during midday trading on Friday, hitting $386.81. 11,637 shares of the company traded hands, compared to its average volume of 1,692,322. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.38 and a quick ratio of 1.15. The stock has a market cap of $107.51 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.20 and a beta of 0.99. Lockheed Martin Co. has a 52-week low of $319.81 and a 52-week high of $402.38. The stock’s 50 day moving average price is $385.18.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.32 by $0.24. The firm had revenue of $16.26 billion for the quarter, compared to the consensus estimate of $16.42 billion. Lockheed Martin had a net margin of 10.53% and a return on equity of 134.40%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $6.08 earnings per share. Equities analysts expect that Lockheed Martin Co. will post 26.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Tuesday, June 1st will be paid a $2.60 dividend. This represents a $10.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, May 28th. Lockheed Martin’s dividend payout ratio is currently 41.87%.
Lockheed Martin Company 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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
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