MJP Associates Inc. ADV Sells 196 Shares of Lockheed Martin Co. (NYSE:LMT)

MJP Associates Inc. ADV decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 10.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,740 shares of the aerospace company’s stock after selling 196 shares during the quarter. MJP Associates Inc. ADV’s holdings in Lockheed Martin were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LMT. Grey Fox Wealth Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $27,000. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Lockheed Martin by 100.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of Lockheed Martin in the fourth quarter valued at about $31,000. Cascade Investment Advisors Inc. acquired a new stake in shares of Lockheed Martin during the 1st quarter worth about $35,000. Finally, KB Financial Partners LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth about $35,000. 74.26% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $6.78 during midday trading on Monday, reaching $430.83. The company’s stock had a trading volume of 304,374 shares, compared to its average volume of 1,197,222. The stock has a market cap of $108.50 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.65. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 1.87. Lockheed Martin Co. has a 52 week low of $381.55 and a 52 week high of $508.10. The business has a 50-day moving average price of $447.76 and a 200-day moving average price of $459.96.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.28. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $15.92 billion. Lockheed Martin had a net margin of 10.48% and a return on equity of 71.67%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $6.32 EPS. On average, sell-side analysts predict that Lockheed Martin Co. will post 27.07 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is 43.88%.

Insider Transactions at Lockheed Martin

In related news, Director John Donovan acquired 548 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was acquired at an average cost of $457.07 per share, for a total transaction of $250,474.36. Following the completion of the acquisition, the director now directly owns 3,378 shares of the company’s stock, valued at approximately $1,543,982.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Lockheed Martin in a research report on Thursday, August 17th. They set a “buy” rating for the company. Citigroup decreased their price target on shares of Lockheed Martin from $579.00 to $555.00 in a research note on Wednesday, July 19th. Susquehanna cut their price objective on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, July 19th. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 19th. Finally, Wells Fargo & Company upgraded Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 price target for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $499.43.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.