Gallacher Capital Management LLC Cuts Holdings in Lockheed Martin Co. (NYSE:LMT)

Gallacher Capital Management LLC decreased its position in Lockheed Martin Co. (NYSE:LMT) by 54.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 945 shares of the aerospace company’s stock after selling 1,147 shares during the period. Gallacher Capital Management LLC’s holdings in Lockheed Martin were worth $441,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. First Pacific Financial bought a new stake in Lockheed Martin during the first quarter worth $25,000. Wiser Advisor Group LLC increased its position in shares of Lockheed Martin by 65.8% during the 1st 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. bought a new stake in shares of Lockheed Martin during the 1st quarter worth $30,000. Stephens Consulting LLC boosted its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Lockheed Martin during the second quarter valued at about $35,000. Institutional investors own 74.19% of the company’s stock.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’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 value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

LMT stock opened at $566.63 on Friday. The firm has a 50 day moving average of $524.33 and a 200-day moving average of $478.96. The firm has a market capitalization of $135.96 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Dividend Announcement

The firm also recently announced 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 2.22%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Wall Street Analyst Weigh In

Several brokerages have commented on LMT. JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Bank of America reissued a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

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.