iA Global Asset Management Inc. Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

iA Global Asset Management Inc. cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 75.9% during the first quarter, Holdings Channel reports. The firm owned 1,047 shares of the aerospace company’s stock after selling 3,291 shares during the quarter. iA Global Asset Management Inc.’s holdings in Lockheed Martin were worth $476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of LMT. First Pacific Financial purchased a new stake in shares of Lockheed Martin during the first quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in Lockheed Martin in the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC increased its stake in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin in the first quarter valued at approximately $30,000. Finally, Thompson Investment Management Inc. purchased a new position in Lockheed Martin in the first quarter valued at approximately $38,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.3 %

Shares of NYSE LMT traded down $1.49 during midday trading on Friday, hitting $547.37. The stock had a trading volume of 1,005,098 shares, compared to its average volume of 1,088,929. The company has a market capitalization of $130.47 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 4.60 and a beta of 0.46. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $561.12. 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 company has a fifty day moving average price of $475.26 and a 200 day moving average price of $456.19.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates 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 was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $6.73 EPS. On average, 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 declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s 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 transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LMT has been the topic of several recent analyst reports. 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. Wells Fargo & Company increased their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their price objective on Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. UBS Group increased their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $526.77.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.