Northeast Investment Management Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Northeast Investment Management lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,121 shares of the aerospace company’s stock after selling 570 shares during the quarter. Northeast Investment Management’s holdings in Lockheed Martin were worth $4,728,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LMT. First Pacific Financial purchased a new position in Lockheed Martin in the first quarter worth $25,000. Altshuler Shaham Ltd purchased a new position in Lockheed Martin in the fourth quarter worth $26,000. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin in the first quarter worth $30,000. Finally, Thompson Investment Management Inc. purchased a new position in Lockheed Martin in the first quarter worth $38,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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 stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LMT shares. Barclays increased their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, UBS Group boosted their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $541.85.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $3.57 on Wednesday, hitting $563.98. 694,294 shares of the stock traded hands, compared to its average volume of 1,072,857. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market capitalization of $135.32 billion, a PE ratio of 20.64, a PEG ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $568.73. The company’s fifty day moving average is $508.14 and its 200 day moving average is $471.23.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $6.73 EPS. On average, equities research analysts predict that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm 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 $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.23%. Lockheed Martin’s payout ratio is 46.10%.

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.