Lumbard & Kellner LLC Sells 236 Shares of Lockheed Martin Co. (NYSE:LMT)

Lumbard & Kellner LLC lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,077 shares of the aerospace company’s stock after selling 236 shares during the quarter. Lockheed Martin makes up approximately 3.1% of Lumbard & Kellner LLC’s investment portfolio, making the stock its 8th largest holding. Lumbard & Kellner LLC’s holdings in Lockheed Martin were worth $6,575,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LMT. Sachetta LLC grew its stake in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin during the 1st quarter valued at $30,000. Stephens Consulting LLC lifted its position in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Lockheed Martin during the second quarter worth $35,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $572.92 on Tuesday. The stock has a 50 day moving average of $537.11 and a 200 day moving average of $485.28. 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 Co. has a 12 month low of $393.77 and a 12 month high of $578.73. The company has a market capitalization of $136.56 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping 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 company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the firm earned $6.73 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on LMT. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $540.00 to $600.00 in a report on Friday, July 26th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Morgan Stanley boosted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Barclays increased their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s 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 completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by company insiders.

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.