First City Capital Management Inc. Lowers Stock Position in Lockheed Martin Co. (NYSE:LMT)

First City Capital Management Inc. cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,437 shares of the aerospace company’s stock after selling 265 shares during the quarter. Lockheed Martin makes up approximately 0.9% of First City Capital Management Inc.’s holdings, making the stock its 25th biggest position. First City Capital Management Inc.’s holdings in Lockheed Martin were worth $1,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Aveo Capital Partners LLC lifted its stake in shares of Lockheed Martin by 4.1% during the 4th quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock valued at $300,000 after buying an additional 26 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in shares of Lockheed Martin by 111.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock valued at $1,026,000 after acquiring an additional 1,209 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in shares of Lockheed Martin by 9.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,948 shares of the aerospace company’s stock worth $1,789,000 after acquiring an additional 344 shares during the period. AXS Investments LLC grew its position in shares of Lockheed Martin by 662.8% during the fourth quarter. AXS Investments LLC now owns 1,373 shares of the aerospace company’s stock worth $622,000 after purchasing an additional 1,193 shares in the last quarter. Finally, HCR Wealth Advisors bought a new stake in Lockheed Martin during the 4th quarter valued at approximately $233,000. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. UBS Group upped their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Wells Fargo & Company upped their price target 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $571.92 on Friday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73. The company has a market capitalization of $137.23 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The stock’s fifty day moving average is $545.61 and its two-hundred day moving average is $488.74. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.73 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. 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.