Semmax Financial Advisors Inc. Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Semmax Financial Advisors Inc. lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 78.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 953 shares of the aerospace company's stock after selling 3,433 shares during the quarter. Semmax Financial Advisors Inc.'s holdings in Lockheed Martin were worth $445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LMT. Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock valued at $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC boosted its stake in shares of 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 purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Lockheed Martin in the first quarter worth about $30,000. Stephens Consulting LLC increased its stake in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock worth $31,000 after buying an additional 22 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in Lockheed Martin during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the business's stock in a transaction 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 completion of the sale, the insider now owns 8,877 shares of the company's stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company's stock.

Lockheed Martin Stock Performance

NYSE:LMT traded down $1.88 during trading hours on Tuesday, reaching $578.63. The company had a trading volume of 688,430 shares, compared to its average volume of 1,065,810. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $581.75. The business's 50 day moving average price is $550.14 and its 200-day moving average price is $491.21. The firm has a market cap of $138.84 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts' consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to analysts' expectations of $17.05 billion. During the same quarter in the previous year, the company earned $6.73 earnings per share. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin's dividend payout ratio (DPR) is presently 46.10%.

Analysts Set New Price Targets

A number of equities analysts have commented on LMT shares. Barclays upped their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 30th. Melius Research upgraded Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. TD Cowen raised Lockheed Martin from a "hold" rating to a "buy" rating and lifted their target price for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Bank of America reissued a "buy" rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a "hold" rating to a "buy" rating and raised their price target for the company from $540.00 to $600.00 in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of "Moderate Buy" and an average target price 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.