Brown Brothers Harriman & Co. is reducing its position in Lockheed Martin Co. (NYSE:LMT)

Brown Brothers Harriman & Co. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 9.3% during the second quarter, HoldingsChannel reports. The firm owned 5,517 shares of the aerospace company’s stock after selling 565 shares during the quarter. Brown Brothers Harriman & Co. holdings. holdings in Lockheed Martin were worth $2,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Plato Investment Management Ltd boosted its stake in shares of Lockheed Martin by 5.1% in the second quarter. Plato Investment Management Ltd now owns 1,118 shares of the aerospace company’s stock worth $522,000 after acquiring an additional 54 shares during the last quarter. Retirement Planning Co of New England Inc. boosted its stake in Lockheed Martin by 1.9% in the second quarter. Retirement Planning Co of New England Inc. now owns 1,387 shares of the aerospace company’s stock worth $648,000 after purchasing an additional 26 shares during the last quarter. Mystic Asset Management Inc. boosted its position in Lockheed Martin by 1.3% in the second quarter. Mystic Asset Management Inc. now owns 4,471 shares of the aerospace company’s stock valued at $2,089,000 after purchasing an additional 57 shares in the last quarter. Clear Investment Research LLC boosted its holdings in Lockheed Martin by 36.6% in the second quarter. Clear Investment Research LLC now owns 261 shares of the aerospace company’s stock worth $122,000 after purchasing an additional 70 shares during the period. Finally, Williams Financial LLC increased its position in Lockheed Martin by 1,210.1% during the 2nd quarter. Williams Financial LLC now owns 27,303 shares of the aerospace company’s stock worth $12,372,000 after buying an additional 25,219 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s shares.

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 that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.17% of shares are currently owned by company insiders.

Lockheed Martin Price Performance

NYSE:LMT opened at $572.92 on Tuesday. The stock has a 50-day moving average of $537.11 and a two-hundred-day moving average of $485.28. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $578.73. The firm has a market cap of $136.56 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07, and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue for the quarter was up 8.6% year-over-year. In the same period last year, the company earned $6.73 per share. On average, analysts expect Lockheed Martin Co. to post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents an annualized dividend of $12.60 and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

The Wall Street analyst weighs in

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the company from $540.00 to $600.00 in a research report on Friday , July 26. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Morgan Stanley lifted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Barclays raised their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. One 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’s stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43, according to MarketBeat.

See the latest stock report on Lockheed Martin

Lockheed Martin Company 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 the Aerospace, Missile and Fire Control, Rotary and Mission Systems and Space segments.

See Also

Want to see what other hedge funds hold LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Lockheed Martin Co. (NYSE:LMT – Free Report).

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