Lockheed Martin Investment Management Co. Sells 48,600 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Lockheed Martin Investment Management Co. has significantly reduced its stake in Johnson & Johnson by selling 48,600 shares, leading to a 44.1% decrease in their holdings.
• Johnson & Johnson's recent quarterly earnings beat estimates with an EPS of $2.77 on revenue of $23.74 billion, showcasing a 5.8% increase compared to the same quarter last year.
• The company's stock currently holds a consensus rating of "Moderate Buy" with a target price averaging $174.50, reflecting mixed analyst sentiment following various ratings adjustments.

Lockheed Martin Investment Management Co. cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 44.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,500 shares of the company's stock after selling 48,600 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Johnson & Johnson were worth $10,199,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Lantz Financial LLC boosted its stake in shares of Johnson & Johnson by 3.3% during the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock worth $1,986,000 after purchasing an additional 377 shares during the last quarter. Sulzberger Capital Advisors Inc. acquired a new position in Johnson & Johnson during the fourth quarter valued at approximately $453,000. Joel Isaacson & Co. LLC lifted its position in Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after buying an additional 2,526 shares in the last quarter. State of Wyoming lifted its position in Johnson & Johnson by 205,580.0% during the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after buying an additional 10,279 shares in the last quarter. Finally, Range Financial Group LLC raised its stake in shares of Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after purchasing an additional 2,529 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Raymond James Financial dropped their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Trading Up 0.4%

NYSE JNJ traded up $0.65 on Monday, hitting $173.98. 7,208,197 shares of the company were exchanged, compared to its average volume of 9,486,962. The company's 50 day moving average price is $159.63 and its 200-day moving average price is $157.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market capitalization of $418.99 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $174.60.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. Analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.