Saxon Interests Inc. Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Saxon Interests Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 9.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 732 shares of the aerospace company’s stock after selling 78 shares during the quarter. Saxon Interests Inc.’s holdings in Lockheed Martin were worth $342,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares during the period. Warther Private Wealth LLC grew its position in shares of Lockheed Martin by 86.1% in the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after buying an additional 7,575 shares during the period. Morningstar Investment Services LLC grew its position in shares of Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after buying an additional 73,774 shares during the period. Cercano Management LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter worth about $29,454,000. Finally, Brevan Howard Capital Management LP grew its position in shares of Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after buying an additional 5,736 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on 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 owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Citigroup increased their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. One 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $541.85.

Lockheed Martin Stock Performance

LMT traded down $0.16 during midday trading on Friday, hitting $560.13. 912,022 shares of the company traded hands, compared to its average volume of 1,086,350. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $134.40 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The company’s 50-day moving average is $494.65 and its 200 day moving average is $464.56. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $564.22.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $6.73 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm 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 $3.15 dividend. This represents a $12.60 annualized dividend 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 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.