Penn Davis Mcfarland Inc. Sells 322 Shares of Lockheed Martin Co. (NYSE:LMT)

Penn Davis Mcfarland Inc. decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,946 shares of the aerospace company’s stock after selling 322 shares during the quarter. Lockheed Martin makes up about 3.4% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 11th biggest holding. Penn Davis Mcfarland Inc.’s holdings in Lockheed Martin were worth $21,928,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LMT. Hudock Inc. lifted its holdings in Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after purchasing an additional 22 shares during the last quarter. American Trust lifted its holdings in Lockheed Martin by 1.8% during the first quarter. American Trust now owns 1,394 shares of the aerospace company’s stock valued at $634,000 after purchasing an additional 24 shares during the last quarter. Hunter Associates Investment Management LLC lifted its holdings in Lockheed Martin by 1.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock valued at $912,000 after purchasing an additional 25 shares during the last quarter. Missouri Trust & Investment Co lifted its holdings in Lockheed Martin by 19.8% during the fourth quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock valued at $68,000 after purchasing an additional 25 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its holdings in Lockheed Martin by 7.1% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 377 shares of the aerospace company’s stock valued at $171,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LMT shares. The Goldman Sachs Group lowered their price target 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. Wells Fargo & Company increased their price target 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. Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Citigroup upped their price objective 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, JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $541.85.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the 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 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 the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

NYSE LMT traded down $0.31 on Monday, reaching $559.82. 286,740 shares of the company’s stock traded hands, compared to its average volume of 1,081,325. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $564.22. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a 50-day simple moving average of $494.65 and a 200 day simple moving average of $464.80. The stock has a market cap of $134.32 billion, a PE ratio of 20.58, a P/E/G ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the business earned $6.73 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts predict that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

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.