Xponance Inc. Sells 14,165 Shares of Lockheed Martin Co. (NYSE:LMT)

Xponance Inc. cut its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 29.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted 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 worth $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the 1st quarter valued at $30,000. Stephens Consulting LLC raised its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock valued at $31,000 after buying an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth about $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

LMT traded up $8.67 during midday trading on Monday, hitting $580.59. The company had a trading volume of 884,500 shares, compared to its average volume of 1,067,864. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $581.75. The firm's 50-day simple moving average is $547.94 and its 200-day simple moving average is $490.19. The company has a market capitalization of $139.31 billion, a PE ratio of 21.24, a P/E/G ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted 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 firm 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%. Lockheed Martin's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.73 EPS. Equities research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.17%. Lockheed Martin's payout ratio is 46.10%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin 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 owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company's stock.

Analyst Ratings Changes

LMT has been the topic of a number of analyst reports. Melius Research raised shares of Lockheed Martin to a "strong-buy" rating in a research note on Tuesday, September 3rd. Susquehanna increased their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a "positive" rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. TD Cowen upgraded Lockheed Martin from a "hold" rating to a "buy" rating and upped their price target for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Finally, Morgan Stanley lifted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $553.43.

About Lockheed Martin

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.