Sompo Asset Management Co. Ltd. Lowers Position in Lockheed Martin Co. (NYSE:LMT)

Sompo Asset Management Co. Ltd. trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 9.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,630 shares of the aerospace company’s stock after selling 280 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Lockheed Martin were worth $1,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Sachetta LLC increased its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at $30,000. Stephens Consulting LLC grew its position in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Lockheed Martin in the second quarter valued at $35,000. 74.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’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 owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Barclays upped their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, UBS Group lifted their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Price Performance

Shares of LMT stock opened at $571.92 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. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73. The firm has a market cap of $137.23 billion, a P/E ratio of 20.93, a P/E/G ratio of 4.55 and a beta of 0.47. The business’s 50 day moving average price is $545.61 and its 200-day moving average price is $488.34.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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. 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 previous year, the business posted $6.73 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Lockheed Martin Co. will post 26.65 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 paid a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Lockheed Martin 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.