Lockheed Martin Co. (NYSE:LMT) Shares Sold by Old Port Advisors

Old Port Advisors lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.2% in the first quarter, Holdings Channel.com reports. The firm owned 722 shares of the aerospace company’s stock after selling 48 shares during the period. Old Port Advisors’ holdings in Lockheed Martin were worth $328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Pacific Financial acquired a new stake in Lockheed Martin in the 1st quarter valued at approximately $25,000. Altshuler Shaham Ltd bought a new position in shares of Lockheed Martin in the fourth quarter valued at $26,000. Wiser Advisor Group LLC lifted its holdings in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the first quarter worth approximately $30,000. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Lockheed Martin in the first quarter valued at $38,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on LMT shares. UBS Group boosted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Barclays increased their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Bank of America raised Lockheed Martin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $465.00 to $635.00 in a report on Wednesday. Royal Bank of Canada upped their price objective on Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $526.77.

Lockheed Martin Trading Down 0.0 %

LMT traded down $0.09 during mid-day trading on Friday, reaching $548.77. The stock had a trading volume of 1,484,756 shares, compared to its average volume of 1,127,651. The firm’s fifty day simple moving average is $476.89 and its two-hundred day simple moving average is $456.78. The stock has a market capitalization of $130.80 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $561.12. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period last year, the company earned $6.73 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.30%. Lockheed Martin’s payout ratio is presently 46.10%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.