DB Fitzpatrick & Co Inc Decreases Position in Lockheed Martin Co. (NYSE:LMT)

DB Fitzpatrick & Co Inc reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,710 shares of the aerospace company’s stock after selling 26 shares during the period. DB Fitzpatrick & Co Inc’s holdings in Lockheed Martin were worth $1,266,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. First Pacific Financial acquired a new position in Lockheed Martin during the first quarter worth about $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC increased its holdings in shares of Lockheed Martin by 65.8% in 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 Lockheed Martin during the first quarter worth approximately $30,000. Finally, Thompson Investment Management Inc. acquired a new position in Lockheed Martin during the first quarter worth $38,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded down $2.93 on Thursday, hitting $560.29. The stock had a trading volume of 920,590 shares, compared to its average volume of 1,087,462. The stock has a market cap of $134.43 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 4.40 and a beta of 0.46. 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 52-week low of $393.77 and a 52-week high of $564.22. The company’s 50 day moving average price is $491.02 and its 200 day moving average price is $462.74.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The business 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 quarter in the prior year, the firm earned $6.73 earnings per share. On average, research analysts anticipate that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The company 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 dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.25%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LMT. Citigroup upped their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Bank of America raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and upped their target price for the company from $465.00 to $635.00 in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $541.85.

About Lockheed Martin

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.