Lockheed Martin Co. (NYSE:LMT) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,601 shares of the aerospace company’s stock after selling 203 shares during the quarter. Park Place Capital Corp’s holdings in Lockheed Martin were worth $748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LMT. First Pacific Financial acquired a new position in Lockheed Martin during the 1st quarter worth $25,000. Altshuler Shaham Ltd acquired a new position in Lockheed Martin in the fourth quarter worth about $26,000. Wiser Advisor Group LLC raised its stake in Lockheed Martin by 65.8% during the first 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. bought a new position in Lockheed Martin during the 1st quarter worth approximately $30,000. Finally, Thompson Investment Management Inc. acquired a new position in shares of Lockheed Martin in the 1st quarter worth approximately $38,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $0.09 on Friday, hitting $548.77. The company had a trading volume of 1,484,756 shares, compared to its average volume of 1,127,651. The business has a 50-day simple moving average of $476.89 and a 200-day simple moving average of $456.78. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market cap of $130.80 billion, a PE ratio of 20.08, a PEG ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $561.12.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during 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 was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $6.73 earnings per share. Research analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LMT shares. UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lowered their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Royal Bank of Canada upped their price objective on Lockheed Martin from $470.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $526.77.

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.