Rock Point Advisors LLC Cuts Holdings in Lockheed Martin Co. (NYSE:LMT)

Rock Point Advisors LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 3.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 625 shares of the aerospace company’s stock after selling 25 shares during the quarter. Rock Point Advisors LLC’s holdings in Lockheed Martin were worth $292,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clear Investment Research LLC increased its position in shares of Lockheed Martin by 36.6% in the 2nd quarter. Clear Investment Research LLC now owns 261 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 70 shares during the last quarter. Williams Financial LLC grew its stake in shares of Lockheed Martin by 1,210.1% during the second quarter. Williams Financial LLC now owns 27,303 shares of the aerospace company’s stock worth $12,372,000 after purchasing an additional 25,219 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Lockheed Martin by 25.8% in the second quarter. J.W. Cole Advisors Inc. now owns 12,845 shares of the aerospace company’s stock valued at $6,000,000 after buying an additional 2,636 shares during the last quarter. Prosperity Consulting Group LLC raised its stake in Lockheed Martin by 3.3% in the second quarter. Prosperity Consulting Group LLC now owns 1,734 shares of the aerospace company’s stock valued at $810,000 after buying an additional 56 shares in the last quarter. Finally, Chronos Wealth Management LLC lifted its holdings in Lockheed Martin by 0.4% during the 2nd quarter. Chronos Wealth Management LLC now owns 11,561 shares of the aerospace company’s stock worth $5,400,000 after buying an additional 43 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lockheed Martin 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 value 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 is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on LMT shares. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Barclays increased their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price objective 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. Susquehanna upped their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Finally, Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Stock Up 0.3 %

Lockheed Martin stock opened at $569.91 on Friday. The stock has a market capitalization of $135.84 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 4.55 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock has a 50 day moving average of $534.89 and a two-hundred day moving average of $483.90. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm 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 for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $6.73 earnings per share. As a group, research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.21%. Lockheed Martin’s dividend payout ratio (DPR) is 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.