Duff & Phelps Investment Management Co. Sells 2,041 Shares of Lockheed Martin Co. (NYSE:LMT)

Duff & Phelps Investment Management Co. cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 80.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 493 shares of the aerospace company’s stock after selling 2,041 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Lockheed Martin were worth $230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna International Securities Ltd. bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at approximately $234,000. Kathmere Capital Management LLC boosted its position in Lockheed Martin by 13.7% in the second quarter. Kathmere Capital Management LLC now owns 3,352 shares of the aerospace company’s stock valued at $1,566,000 after buying an additional 405 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Lockheed Martin by 9.9% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,053 shares of the aerospace company’s stock worth $492,000 after buying an additional 95 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Lockheed Martin during the second quarter worth $30,968,000. Finally, Smith Thornton Advisors LLC bought a new position in shares of Lockheed Martin in the 2nd quarter valued at $366,000. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research reports. Susquehanna boosted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Barclays lifted 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 report on Tuesday, July 30th. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’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 directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $582.36 on Monday. The business has a 50-day moving average price of $556.36 and a two-hundred day moving average price of $494.27. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $584.07. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market cap of $139.73 billion, a P/E ratio of 21.31, a PEG ratio of 4.66 and a beta of 0.47.

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

Lockheed Martin Profile

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.