Burns J W & Co. Inc. NY Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Burns J W & Co. Inc. NY cut its stake in Lockheed Martin Co. (NYSE:LMT) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,982 shares of the aerospace company’s stock after selling 97 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Lockheed Martin were worth $912,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Grey Fox Wealth Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter worth $27,000. Edmond DE Rothschild Holding S.A. grew its position in shares of Lockheed Martin by 100.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 30 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in shares of Lockheed Martin in the 4th quarter valued at about $31,000. Cascade Investment Advisors Inc. acquired a new position in Lockheed Martin in the 1st quarter worth about $35,000. Finally, KB Financial Partners LLC acquired a new position in Lockheed Martin in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Insider Activity

In other Lockheed Martin news, Director John Donovan acquired 548 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was purchased at an average cost of $457.07 per share, with a total value of $250,474.36. Following the transaction, the director now owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LMT shares. Citigroup cut their price objective on Lockheed Martin from $579.00 to $555.00 in a research report on Wednesday, July 19th. Wells Fargo & Company raised shares of Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 price target for the company in a report on Monday. Susquehanna decreased their price objective on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, July 19th. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $532.00 price objective on shares of Lockheed Martin in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $499.43.

Lockheed Martin Trading Up 1.3 %

Shares of LMT stock opened at $429.69 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 1.87. Lockheed Martin Co. has a twelve month low of $381.55 and a twelve month high of $508.10. The company’s 50-day moving average price is $447.76 and its 200-day moving average price is $459.96. The stock has a market cap of $108.21 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.41 and a beta of 0.65.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.28. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $15.92 billion. Lockheed Martin had a net margin of 10.48% and a return on equity of 71.67%. Lockheed Martin’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $6.32 EPS. As a group, equities analysts predict that Lockheed Martin Co. will post 27.07 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, August 31st. This represents a $12.00 annualized dividend and a yield of 2.79%. Lockheed Martin’s dividend payout ratio (DPR) is 43.88%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.