United Services Automobile Association Sells 409 Shares of Lockheed Martin Co. (NYSE:LMT)

United Services Automobile Association cut its position in Lockheed Martin Co. (NYSE:LMT) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,861 shares of the aerospace company’s stock after selling 409 shares during the quarter. United Services Automobile Association’s holdings in Lockheed Martin were worth $27,494,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. First Pacific Financial acquired a new stake in Lockheed Martin in the first quarter valued at approximately $25,000. Wiser Advisor Group LLC boosted its position in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin during the 1st quarter worth $30,000. Stephens Consulting LLC increased its position in Lockheed Martin by 48.9% during 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 purchased a new stake in Lockheed Martin in the second quarter valued at about $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.3 %

Shares of NYSE:LMT opened at $566.63 on Monday. 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 Co. has a 12-month low of $393.77 and a 12-month high of $578.73. The business has a 50 day moving average of $524.33 and a two-hundred day moving average of $479.32. The company has a market capitalization of $135.06 billion, a PE ratio of 20.73, a PEG ratio of 4.55 and a beta of 0.47.

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

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LMT. Barclays upped their price objective 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. TD Cowen upgraded shares of 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 note on Wednesday, July 24th. UBS Group lifted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $553.43.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

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.