Laurel Grove Capital Lowers stake in Lockheed Martin Corporation (LMT)

Lockheed Martin Corporation (LMT) : Laurel Grove Capital reduced its stake in Lockheed Martin Corporation by 2.18% during the most recent quarter end. The investment management company now holds a total of 27,865 shares of Lockheed Martin Corporation which is valued at $7,169,943 after selling 620 shares in Lockheed Martin Corporation , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Lockheed Martin Corporation makes up approximately 4.19% of Laurel Grove Capital’s portfolio.

Other Hedge Funds, Including , Bennicas Associates reduced its stake in LMT by selling 100 shares or 1.9% in the most recent quarter. The Hedge Fund company now holds 5,175 shares of LMT which is valued at $1,328,267. Lockheed Martin Corporation makes up approx 1.17% of Bennicas Associates’s portfolio. Arcadia Investment Management Corpmi added LMT to its portfolio by purchasing 150 company shares during the most recent quarter which is valued at $38,444. Lockheed Martin Corporation makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.Eastern Bank boosted its stake in LMT in the latest quarter, The investment management firm added 375 additional shares and now holds a total of 13,817 shares of Lockheed Martin Corporation which is valued at $3,541,159. Lockheed Martin Corporation makes up approx 0.28% of Eastern Bank’s portfolio. Iowa State Bank added LMT to its portfolio by purchasing 150 company shares during the most recent quarter which is valued at $37,785. Lockheed Martin Corporation makes up approx 0.02% of Iowa State Bank’s portfolio.

Lockheed Martin Corporation closed down -2.29 points or -0.88% at $256.67 with 33,62,076 shares getting traded on Wednesday. Post opening the session at $259.32, the shares hit an intraday low of $255.89 and an intraday high of $259.82 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Lockheed Martin Corporation reported $3.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.39 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $2.93. The company had revenue of $12914.00 million for the quarter, compared to analysts expectations of $12576.52 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS.

Investors should note that on Jun 23, 2016, Lockheed Martin Corporation announced a cash dividend of $1.6500. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 23, 2016.

Many Wall Street Analysts have commented on Lockheed Martin Corporation. Lockheed Martin Corporation was Downgraded by Berenberg to ” Hold” on May 31, 2016. RBC Capital Mkts Downgraded Lockheed Martin Corporation on May 19, 2016 to ” Sector Perform”, Price Target of the shares are set at $244.Lockheed Martin Corporation was Downgraded by Stifel to ” Hold” on May 13, 2016.

Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research design development manufacture integration and sustainment of advanced technology systems products and services. The Company operates in five segments: Aeronautics Information Systems & Global Solutions (IS&GS) Missiles and Fire Control (MFC) Mission Systems and Training (MST) and Space Systems. The Company provides a range of management engineering technical scientific logistics and information services. The Company’s areas of focus are in defense space intelligence homeland security and information technology including cyber security. It serves both the United States and international customers with products and services that have defense civil and commercial applications.

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