Richardson Financial Services Inc. Has $190,000 Stock Position in Lockheed Martin Co. (NYSE:LMT)

Richardson Financial Services Inc. lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 22.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 406 shares of the aerospace company’s stock after selling 116 shares during the quarter. Richardson Financial Services Inc.’s holdings in Lockheed Martin were worth $190,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Intrepid Financial Planning Group LLC acquired a new stake in Lockheed Martin in the 2nd quarter valued at about $253,000. Garner Asset Management Corp increased its position in Lockheed Martin by 6.6% in the 2nd quarter. Garner Asset Management Corp now owns 3,494 shares of the aerospace company’s stock valued at $1,632,000 after acquiring an additional 215 shares in the last quarter. Altrius Capital Management Inc increased its position in Lockheed Martin by 1.9% in the 2nd quarter. Altrius Capital Management Inc now owns 8,986 shares of the aerospace company’s stock valued at $4,198,000 after acquiring an additional 169 shares in the last quarter. Carolinas Wealth Consulting LLC increased its position in Lockheed Martin by 33.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 802 shares of the aerospace company’s stock valued at $374,000 after acquiring an additional 202 shares in the last quarter. Finally, Lokken Investment Group LLC increased its position in Lockheed Martin by 13.3% in the 2nd quarter. Lokken Investment Group LLC now owns 3,149 shares of the aerospace company’s stock valued at $1,471,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LMT. Barclays raised their target price 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. UBS Group raised their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin 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 sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $565.18 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The company has a market capitalization of $135.61 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company’s 50 day moving average price is $543.44 and its two-hundred day moving average price is $487.37. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $6.73 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

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 issued a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.23%. 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.