Hancock Whitney Corp Has $26.58 Million Position in Lockheed Martin Co. (NYSE:LMT)

Hancock Whitney Corp lowered its position in Lockheed Martin Co. (NYSE:LMT) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,906 shares of the aerospace company’s stock after selling 352 shares during the quarter. Lockheed Martin makes up approximately 0.9% of Hancock Whitney Corp’s holdings, making the stock its 21st biggest position. Hancock Whitney Corp’s holdings in Lockheed Martin were worth $26,581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. HTLF Bank grew its holdings in Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after acquiring an additional 20 shares during the last quarter. tru Independence LLC grew its stake in shares of Lockheed Martin by 2.5% during the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares during the last quarter. Sachetta LLC grew its stake in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Goldstein Advisors LLC increased its holdings in shares of Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after purchasing an additional 21 shares in the last quarter. Finally, Hudock Inc. raised its position in Lockheed Martin by 1.3% in the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of several research reports. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. UBS Group lifted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the company from $540.00 to $600.00 in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Trading Up 1.2 %

NYSE:LMT opened at $571.92 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The business’s 50-day simple moving average is $545.61 and its 200-day simple moving average is $488.34. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73. The stock has a market capitalization of $137.23 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly 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. 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 for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the firm posted $6.73 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is 46.10%.

Insider Activity

In other 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

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.