Synergy Asset Management LLC Sells 3,847 Shares of Lockheed Martin Co. (NYSE:LMT)

Synergy Asset Management LLC lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 26.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,619 shares of the aerospace company’s stock after selling 3,847 shares during the quarter. Synergy Asset Management LLC’s holdings in Lockheed Martin were worth $4,960,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LMT. First Pacific Financial bought a new position in Lockheed Martin in the first quarter worth $25,000. Wiser Advisor Group LLC boosted its holdings 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 buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the 1st quarter worth about $30,000. Stephens Consulting LLC increased its stake 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 acquiring an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Lockheed Martin during the 2nd quarter valued at about $35,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LMT shares. Wells Fargo & Company upped their price objective 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. UBS Group upped their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday. Barclays increased their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley lifted their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded up $0.50 during trading on Friday, reaching $569.09. 47,714 shares of the company traded hands, compared to its average volume of 1,064,365. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a 50 day simple moving average of $522.34 and a 200-day simple moving average of $477.58. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $578.73. The stock has a market capitalization of $136.55 billion, a PE ratio of 20.80, a P/E/G ratio of 4.56 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $6.73 earnings per share. Equities research analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’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 owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin 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.