Old Port Advisors Sells 48 Shares of Lockheed Martin Co. (NYSE:LMT)

Old Port Advisors trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 722 shares of the aerospace company’s stock after selling 48 shares during the period. Old Port Advisors’ holdings in Lockheed Martin were worth $328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Point Inc. bought a new stake in shares of Lockheed Martin in the fourth quarter valued at $417,000. WealthShield Partners LLC bought a new position in Lockheed Martin during the fourth quarter worth about $1,562,000. Ballentine Partners LLC raised its position in shares of Lockheed Martin by 35.8% in the fourth quarter. Ballentine Partners LLC now owns 3,450 shares of the aerospace company’s stock valued at $1,564,000 after purchasing an additional 910 shares during the period. Advisory Alpha LLC boosted its holdings in Lockheed Martin by 10.9% in the 4th quarter. Advisory Alpha LLC now owns 1,926 shares of the aerospace company’s stock worth $873,000 after buying an additional 189 shares during the period. Finally, KG&L Capital Management LLC boosted its holdings in shares of Lockheed Martin by 11.7% in the fourth quarter. KG&L Capital Management LLC now owns 802 shares of the aerospace company’s stock worth $363,000 after acquiring an additional 84 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Trading Down 0.0 %

Shares of LMT stock traded down $0.09 on Friday, hitting $548.77. 1,484,756 shares of the company’s stock traded hands, compared to its average volume of 1,127,651. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market capitalization of $130.80 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.46. The company’s fifty day simple moving average is $476.89 and its 200 day simple moving average is $456.78. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $561.12.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the company posted $6.73 EPS. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts forecast 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 dividend on an annualized basis and a yield of 2.30%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Lockheed Martin from $470.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $465.00 to $635.00 in a research note on Wednesday. The Goldman Sachs Group reduced their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Citigroup lifted their price target on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $526.77.

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.