Penn Davis Mcfarland Inc. Sells 160 Shares of Lockheed Martin Co. (NYSE:LMT)

Penn Davis Mcfarland Inc. cut its stake in Lockheed Martin Co. (NYSE:LMTGet Rating) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,114 shares of the aerospace company’s stock after selling 160 shares during the quarter. Lockheed Martin accounts for about 3.6% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 12th largest holding. Penn Davis Mcfarland Inc.’s holdings in Lockheed Martin were worth $18,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Dakota Wealth Management boosted its stake in shares of Lockheed Martin by 83.4% in the 1st quarter. Dakota Wealth Management now owns 1,977 shares of the aerospace company’s stock worth $873,000 after buying an additional 899 shares during the last quarter. Davis R M Inc. bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $522,000. Minot Wealth Management LLC increased its position in shares of Lockheed Martin by 187.6% during the 2nd quarter. Minot Wealth Management LLC now owns 5,102 shares of the aerospace company’s stock valued at $2,194,000 after purchasing an additional 3,328 shares during the last quarter. Dumont & Blake Investment Advisors LLC bought a new position in shares of Lockheed Martin in the 1st quarter worth approximately $262,000. Finally, City State Bank purchased a new position in shares of Lockheed Martin in the fourth quarter worth approximately $643,000. 75.50% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded down $8.96 during mid-day trading on Friday, reaching $413.12. The stock had a trading volume of 56,788 shares, compared to its average volume of 1,094,717. The business’s 50 day moving average price is $419.75 and its 200 day moving average price is $431.25. Lockheed Martin Co. has a 1 year low of $324.23 and a 1 year high of $479.99. The company has a market cap of $109.54 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 2.88 and a beta of 0.66. The company has a current ratio of 1.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.02.

Lockheed Martin (NYSE:LMTGet Rating) last issued its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.39 by ($5.23). Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. The firm had revenue of $15.45 billion for the quarter, compared to analysts’ expectations of $16.02 billion. During the same period last year, the company earned $7.13 earnings per share. The firm’s revenue was down 9.3% on a year-over-year basis. Research analysts expect that Lockheed Martin Co. will post 26.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LMT shares. Royal Bank of Canada began coverage on shares of Lockheed Martin in a research note on Monday, August 29th. They set a “sector perform” rating and a $460.00 price target on the stock. Wells Fargo & Company decreased their price objective on Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Finally, Morgan Stanley cut their price objective on Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $448.92.

Insiders Place Their Bets

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

Lockheed Martin Company Profile

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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.

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

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