Xponance Inc. Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Xponance Inc. trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 29.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,049 shares of the aerospace company’s stock after selling 14,165 shares during the quarter. Xponance Inc.’s holdings in Lockheed Martin were worth $15,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of Montreal Can grew its stake in Lockheed Martin by 0.9% during the 2nd quarter. Bank of Montreal Can now owns 643,554 shares of the aerospace company’s stock valued at $303,281,000 after purchasing an additional 5,987 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Lockheed Martin by 3.9% in the second quarter. Evergreen Capital Management LLC now owns 12,873 shares of the aerospace company’s stock worth $6,013,000 after buying an additional 483 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Lockheed Martin by 110.2% in the second quarter. Public Sector Pension Investment Board now owns 7,847 shares of the aerospace company’s stock worth $3,665,000 after buying an additional 4,114 shares during the last quarter. Edge Capital Group LLC raised its holdings in Lockheed Martin by 16.2% in the 2nd quarter. Edge Capital Group LLC now owns 12,469 shares of the aerospace company’s stock worth $5,824,000 after purchasing an additional 1,739 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Lockheed Martin by 168.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,020 shares of the aerospace company’s stock worth $1,411,000 after purchasing an additional 1,895 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LMT. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company upped their price target on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Susquehanna upped their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. UBS Group increased their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the company from $540.00 to $600.00 in a report on Friday, July 26th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Price Performance

NYSE:LMT opened at $571.92 on Monday. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $578.73. 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 stock has a market cap of $137.23 billion, a PE ratio of 20.93, a P/E/G ratio of 4.55 and a beta of 0.47. The stock has a 50 day moving average price of $545.61 and a 200 day moving average price of $489.13.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during 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 firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $6.73 earnings per share. Equities research analysts expect that Lockheed Martin Co. will post 26.65 EPS 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. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.20%. Lockheed Martin’s payout ratio is 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.