Hyman Charles D Sells 75 Shares of Lockheed Martin Co. (NYSE:LMT)

Hyman Charles D cut its stake in Lockheed Martin Co. (NYSE:LMT) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,121 shares of the aerospace company’s stock after selling 75 shares during the period. Lockheed Martin comprises about 1.1% of Hyman Charles D’s investment portfolio, making the stock its 29th largest position. Hyman Charles D’s holdings in Lockheed Martin were worth $20,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. First Pacific Financial acquired a new position in shares of Lockheed Martin during the first quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new position in Lockheed Martin in the 4th quarter valued at $26,000. Wiser Advisor Group LLC raised 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 worth $29,000 after acquiring an additional 25 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, Thompson Investment Management Inc. acquired a new stake in shares of Lockheed Martin during the 1st quarter worth about $38,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

LMT stock traded up $3.09 during trading hours on Monday, reaching $558.10. The stock had a trading volume of 794,773 shares, compared to its average volume of 1,077,125. The stock has a market capitalization of $133.91 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $564.22. The stock has a 50-day simple moving average of $506.14 and a 200 day simple moving average of $470.29.

Lockheed Martin (NYSE:LMT) last posted 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 company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the business posted $6.73 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on LMT. Bank of America upgraded Lockheed Martin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $465.00 to $635.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Susquehanna upped their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, Barclays raised their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $541.85.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated 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 directly 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 is available at this link. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Company 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.