Lockheed Martin Co. (NYSE:LMT) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 16.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,605 shares of the aerospace company’s stock after selling 525 shares during the quarter. Morse Asset Management Inc’s holdings in Lockheed Martin were worth $1,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. First Pacific Financial purchased a new position in shares of Lockheed Martin during the 1st quarter worth $25,000. Altshuler Shaham Ltd purchased a new position in shares of Lockheed Martin during the 4th quarter worth $26,000. Activest Wealth Management raised its holdings in shares of Lockheed Martin by 1,200.0% during the 4th quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 60 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the 1st quarter worth $30,000. Finally, Iron Horse Wealth Management LLC raised its holdings in shares of Lockheed Martin by 1,925.0% during the 4th quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity

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

Lockheed Martin Stock Up 0.7 %

LMT traded up $3.40 on Friday, reaching $524.80. The company’s stock had a trading volume of 1,141,310 shares, compared to its average volume of 1,065,686. The stock has a 50 day moving average of $469.59 and a two-hundred day moving average of $453.88. The company has a quick ratio of 1.11, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $125.09 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 4.89 and a beta of 0.46. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $528.64.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating 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 return on equity of 95.03% and a net margin of 9.48%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $6.73 earnings per share. As a group, analysts forecast that Lockheed Martin Co. will post 26.26 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the company from $540.00 to $600.00 in a report on Friday. UBS Group boosted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group reduced their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, Susquehanna boosted their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $518.91.

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.