Perennial Investment Advisors LLC Has $328,000 Stock Position in Lockheed Martin Co. (NYSE:LMT)

Perennial Investment Advisors LLC lowered its stake in Lockheed Martin Co. (NYSE:LMTGet Rating) by 41.4% during the first quarter, HoldingsChannel.com reports. The firm owned 748 shares of the aerospace company’s stock after selling 528 shares during the period. Perennial Investment Advisors LLC’s holdings in Lockheed Martin were worth $328,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LMT. Western Pacific Wealth Management LP bought a new position in Lockheed Martin during the 4th quarter worth about $25,000. PARK CIRCLE Co bought a new position in shares of Lockheed Martin in the 4th quarter valued at about $36,000. Capital Advisory Group Advisory Services LLC bought a new position in shares of Lockheed Martin in the 1st quarter valued at about $38,000. Horan Securities Inc. bought a new position in shares of Lockheed Martin in the 4th quarter valued at about $42,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Lockheed Martin in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 78.89% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Susquehanna raised their price objective on Lockheed Martin from $515.00 to $539.00 in a report on Wednesday, April 20th. Morgan Stanley cut their target price on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Susquehanna Bancshares raised their target price on shares of Lockheed Martin from $515.00 to $539.00 in a research note on Wednesday, April 20th. Argus raised their target price on shares of Lockheed Martin from $415.00 to $500.00 in a research note on Wednesday, April 20th. Finally, Wells Fargo & Company cut their target price on shares of Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $448.00.

Insider Activity

In other Lockheed Martin news, Director John Donovan purchased 632 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was bought at an average cost of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the transaction, the director now owns 1,200 shares in the company, valued at $475,392. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Gregory M. Ulmer sold 6,929 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Donovan bought 632 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were bought at an average cost of $396.16 per share, for a total transaction of $250,373.12. Following the purchase, the director now owns 1,200 shares of the company’s stock, valued at approximately $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Lockheed Martin Trading Down 0.4 %

Shares of LMT stock opened at $426.41 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. Lockheed Martin Co. has a 12-month low of $324.23 and a 12-month high of $479.99. The firm has a 50 day moving average price of $418.80 and a two-hundred day moving average price of $424.98. The company has a market capitalization of $113.06 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 2.93 and a beta of 0.67.

Lockheed Martin (NYSE:LMTGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The business had revenue of $15.45 billion during the quarter, compared to analyst estimates of $16.02 billion. During the same quarter in the previous year, the firm posted $7.13 earnings per share. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, analysts predict that Lockheed Martin Co. will post 26.8 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Thursday, September 1st will be given a $2.80 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $11.20 dividend on an annualized basis and a dividend yield of 2.63%. Lockheed Martin’s payout ratio is 64.81%.

About Lockheed Martin

(Get Rating)

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

Further Reading

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMTGet Rating).

Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.