Brown Brothers Harriman & Co. Sells 565 Shares of Lockheed Martin Co. (NYSE:LMT)

Brown Brothers Harriman & Co. lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,517 shares of the aerospace company’s stock after selling 565 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Lockheed Martin were worth $2,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sachetta LLC grew its position in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its holdings 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 during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Lockheed Martin during the 1st quarter valued at approximately $30,000. Stephens Consulting LLC raised its holdings 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 during the period. Finally, Ridgewood Investments LLC purchased a new position in Lockheed Martin during the second quarter worth $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and increased their target price for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. Finally, Morgan Stanley upped their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Up 0.5 %

Shares of NYSE LMT opened at $572.92 on Tuesday. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $578.73. The stock’s fifty day simple moving average is $537.11 and its two-hundred day simple moving average is $485.28. The stock has a market capitalization of $136.56 billion, a PE 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) last issued 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. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $6.73 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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

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.