Cypress Capital Group Has $15.87 Million Position in Lockheed Martin Co. (NYSE:LMT)

Cypress Capital Group decreased its position in Lockheed Martin Co. (NYSE:LMT) by 0.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 33,979 shares of the aerospace company’s stock after selling 84 shares during the quarter. Lockheed Martin comprises 1.9% of Cypress Capital Group’s holdings, making the stock its 9th largest position. Cypress Capital Group’s holdings in Lockheed Martin were worth $15,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. First Pacific Financial bought a new position in shares of Lockheed Martin during the first quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in shares of Lockheed Martin during the fourth quarter valued at about $26,000. Wiser Advisor Group LLC raised its stake in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Lockheed Martin during the first quarter valued at about $30,000. Finally, Thompson Investment Management Inc. bought a new position in shares of Lockheed Martin during the first quarter valued at about $38,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $2.02 on Friday, hitting $555.01. 870,355 shares of the company traded hands, compared to its average volume of 1,078,855. The stock has a market capitalization of $133.17 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $564.22. The business has a 50-day simple moving average of $504.16 and a 200 day simple moving average of $469.36.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $6.73 earnings per share. Research analysts expect that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LMT shares. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Morgan Stanley upped their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. UBS Group upped their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Barclays increased their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $541.85.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’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 sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed 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 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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.