Morse Asset Management Inc cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,428 shares of the aerospace company’s stock after selling 360 shares during the quarter. Lockheed Martin comprises about 1.9% of Morse Asset Management Inc’s holdings, making the stock its 12th largest position. Morse Asset Management Inc’s holdings in Lockheed Martin were worth $6,921,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Silvant Capital Management LLC acquired a new stake in Lockheed Martin in the first quarter worth $114,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Lockheed Martin in the first quarter worth $116,000. FTB Advisors Inc. grew its holdings in Lockheed Martin by 142.6% in the second quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock worth $105,000 after purchasing an additional 211 shares during the period. Fort L.P. acquired a new stake in Lockheed Martin in the second quarter worth $116,000. Finally, Trilogy Capital Inc. acquired a new stake in Lockheed Martin in the first quarter worth $134,000. Institutional investors own 78.17% of the company’s stock.
Shares of NYSE LMT opened at $335.80 on Monday. The stock has a market cap of $92.63 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 2.57 and a beta of 0.72. Lockheed Martin Co. has a 1 year low of $291.52 and a 1 year high of $363.00. The company has a quick ratio of 0.97, a current ratio of 1.19 and a debt-to-equity ratio of 28.14.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.39. The firm had revenue of $13.40 billion during the quarter, compared to analysts’ expectations of $12.72 billion. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $3.23 earnings per share. research analysts anticipate that Lockheed Martin Co. will post 17.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, August 31st. Lockheed Martin’s dividend payout ratio is currently 60.02%.
In related news, SVP Maryanne Lavan sold 7,250 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total transaction of $2,346,390.00. Following the transaction, the senior vice president now directly owns 9,869 shares of the company’s stock, valued at $3,194,003.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marillyn A. Hewson sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $323.68, for a total transaction of $8,092,000.00. Following the transaction, the chairman now directly owns 90,625 shares in the company, valued at $29,333,500. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
A number of equities research analysts have commented on LMT shares. Credit Suisse Group reduced their price target on shares of Lockheed Martin from $380.00 to $335.00 and set a “neutral” rating for the company in a report on Tuesday, May 22nd. ValuEngine cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $343.00 price target for the company in a report on Wednesday, July 11th. Morgan Stanley reduced their price target on shares of Lockheed Martin from $370.00 to $352.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Finally, Cowen upgraded shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price target for the company in a report on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $372.02.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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