Toronto Dominion Bank Sells 78,601 Shares of Lockheed Martin Co. (NYSE:LMT)

Toronto Dominion Bank lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 41.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,389 shares of the aerospace company’s stock after selling 78,601 shares during the period. Toronto Dominion Bank’s holdings in Lockheed Martin were worth $52,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Wulff Hansen & CO. lifted its stake in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after buying an additional 440,169 shares in the last quarter. Confluence Investment Management LLC bought a new position in Lockheed Martin during the first quarter valued at approximately $151,402,000. Capital Research Global Investors grew its holdings in Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after buying an additional 218,506 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after acquiring an additional 218,466 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT stock opened at $577.95 on Thursday. The stock has a 50 day moving average price of $550.14 and a 200 day moving average price of $491.21. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $583.75. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market capitalization of $137.76 billion, a P/E ratio of 21.15, a P/E/G ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $6.73 earnings per share. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on LMT. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin 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 sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.