Contravisory Investment Management Inc. Sells 24 Shares of Lockheed Martin Co. (NYSE:LMT)

Contravisory Investment Management Inc. lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,618 shares of the aerospace company’s stock after selling 24 shares during the period. Contravisory Investment Management Inc.’s holdings in Lockheed Martin were worth $5,809,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Grey Fox Wealth Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter worth $27,000. Edmond DE Rothschild Holding S.A. boosted its stake in Lockheed Martin by 100.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 30 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in Lockheed Martin during the fourth quarter worth $31,000. Cascade Investment Advisors Inc. purchased a new position in Lockheed Martin during the first quarter worth $35,000. Finally, KB Financial Partners LLC purchased a new position in Lockheed Martin during the first quarter worth $35,000. Institutional investors own 74.26% of the company’s stock.

Lockheed Martin Stock Up 1.5 %

Shares of LMT traded up $6.47 during mid-day trading on Monday, hitting $430.52. 385,678 shares of the company traded hands, compared to its average volume of 1,197,743. Lockheed Martin Co. has a 1-year low of $381.55 and a 1-year high of $508.10. The company has a quick ratio of 1.16, a current ratio of 1.36 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $108.42 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.65. The business has a 50 day moving average of $447.76 and a 200 day moving average of $459.96.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 18th. The aerospace company reported $6.73 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.28. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $15.92 billion. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. Lockheed Martin’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.32 earnings per share. Equities research analysts anticipate that Lockheed Martin Co. will post 27.07 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be given a $3.00 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $12.00 dividend on an annualized basis and a yield of 2.79%. Lockheed Martin’s dividend payout ratio is currently 43.88%.

Insider Activity at Lockheed Martin

In other news, Director John Donovan bought 548 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were purchased at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the completion of the transaction, the director now directly owns 3,378 shares in the company, valued at $1,543,982.46. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LMT. StockNews.com began coverage on shares of Lockheed Martin in a research note on Thursday, August 17th. They set a “buy” rating for the company. Wells Fargo & Company raised shares of Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 target price for the company in a research note on Monday. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 19th. Morgan Stanley reissued an “equal weight” rating and set a $532.00 target price on shares of Lockheed Martin in a research note on Wednesday, July 19th. Finally, Citigroup decreased their price objective on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus price target of $499.43.

Lockheed Martin Company 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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.