Ballentine Partners LLC reduced its position in shares of Lockheed Martin Co. (NYSE:LMT)

Ballentine Partners LLC reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,596 shares of the aerospace company’s stock after selling 237 shares during the period. Ballentine Partners LLC’s holdings in Lockheed Martin were worth $1,680,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. First Pacific Financial acquired a new stake in shares of Lockheed Martin in the first quarter worth $25,000. Wiser Advisor Group LLC boosted its stake in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding SA purchased a new position in Lockheed Martin in the first quarter valued at approximately $30,000. Stephens Consulting LLC raised its stake in shares of 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 purchasing an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Lockheed Martin in the second quarter valued at about $35,000. Institutional investors and hedge funds own 74.19% of the company’s shares.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $566.63 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.24, and a debt-to-equity ratio of 3.10. The firm has a market cap of $135.06 billion, a P/E ratio of 20.73, a PEG ratio of 4.55 and a beta of 0.47. The firm has a fifty day moving average of $524.33 and a 200 day moving average of $479.32. Lockheed Martin Co. it has a 52-week low of $393.77 and a 52-week high of $578.73.

Lockheed Martin (NYSE:LMT – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. In the same period last year, the company posted earnings of $6.73 per share. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin announces dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a dividend of $12.60 on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

The Wall Street analyst weighs in

LMT has been the subject of several analyst reports. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $500.00 to $600.00 in a report on research on Monday, August 5. Wells Fargo & Company boosted their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the company from $540.00 to $600.00 in a report on Friday. July 26. Morgan Stanley boosted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, Susquehanna boosted their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and an average target price of $553.43, according to MarketBeat.

Check out our latest analysis on LMT

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. 0.17% of shares are owned by corporate insiders.

Lockheed Martin Profile

(Free report)

Lockheed Martin Corporation, a security and aerospace company, is engaged in the research, design, development, manufacture, integration and support of technology systems, products and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

Further reading

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