Epoch Investment Partners Inc. Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Epoch Investment Partners Inc. decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.1% during the second quarter, HoldingsChannel reports. The firm owned 131,025 shares of the aerospace company’s stock after selling 5,562 shares during the period. Epoch Investment Partners Inc.’s holdings in Lockheed Martin were worth $61,202,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC grew its position in Lockheed Martin by 52,325.0% during the second quarter. Frank Rimerman Advisors LLC now owns 2,097 shares of the aerospace company’s stock valued at $980,000 after acquiring an additional 2,093 shares during the last quarter. Holderness Investments Co. raised its position in Lockheed Martin by 10.4% in the 2nd quarter. Holderness Investments Co. now owns 3,972 shares of the aerospace company’s stock worth $1,855,000 after purchasing an additional 375 shares during the period. ProShare Advisors LLC lifted its stake in Lockheed Martin by 6.0% in the second quarter. ProShare Advisors LLC now owns 33,727 shares of the aerospace company’s stock worth $15,754,000 after purchasing an additional 1,921 shares during the last quarter. Merriman Wealth Management LLC bought a new position in shares of Lockheed Martin during the second quarter valued at about $223,000. Finally, Alaethes Wealth LLC increased its holdings in shares of Lockheed Martin by 2.5% in the second quarter. Alaethes Wealth LLC now owns 3,387 shares of the aerospace company’s stock worth $1,582,000 after buying an additional 82 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LMT. UBS Group raised their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, Wells Fargo & Company boosted their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. One 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $571.92 on Monday. The business has a fifty day simple moving average of $545.61 and a two-hundred day simple moving average of $489.13. The firm has a market capitalization of $137.23 billion, a P/E ratio of 20.93, a P/E/G 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 Co. has a 12 month low of $393.77 and a 12 month high of $578.73.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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 net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the previous year, the firm posted $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) 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.