D.B. Root & Company LLC Sells 1,034 Shares of Lockheed Martin Co. (NYSE:LMT)

D.B. Root & Company LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 29.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,432 shares of the aerospace company’s stock after selling 1,034 shares during the quarter. D.B. Root & Company LLC’s holdings in Lockheed Martin were worth $1,136,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. First Pacific Financial purchased a new position in Lockheed Martin in the first quarter worth about $25,000. Altshuler Shaham Ltd purchased a new position in Lockheed Martin in the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC lifted its position in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin in the 1st quarter worth $30,000. Finally, Thompson Investment Management Inc. purchased a new position in shares of Lockheed Martin in the first quarter worth $38,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded up $5.17 during trading on Monday, hitting $556.75. The company had a trading volume of 793,739 shares, compared to its average volume of 1,091,993. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $562.60. 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 firm has a market capitalization of $133.59 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The stock has a 50 day simple moving average of $487.25 and a 200 day simple moving average of $461.12.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates 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 revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $6.73 EPS. As a group, analysts anticipate that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.26%. Lockheed Martin’s payout ratio is presently 46.10%.

Wall Street Analyst Weigh In

Several research firms recently commented on LMT. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $465.00 to $635.00 in a research note on Wednesday, July 31st. Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday. Citigroup lifted their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group lowered their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $541.85.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin 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 sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

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.