Lockheed Martin Investment Management Co. Has $3.44 Million Holdings in American Express Company (AXP)
Lockheed Martin Investment Management Co. trimmed its stake in American Express Company (NYSE:AXP) by 61.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the payment services company’s stock after selling 66,275 shares during the period. Lockheed Martin Investment Management Co.’s holdings in American Express were worth $3,437,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. MCF Advisors LLC grew its position in American Express by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after acquiring an additional 6 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares in the last quarter. SpiderRock Advisors LLC acquired a new position in American Express in the first quarter worth $112,000. SRS Capital Advisors Inc. boosted its stake in American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after purchasing an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after purchasing an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
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In other news, insider Susan Sobbott sold 6,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kenneth I. Chenault sold 789,503 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $84.62, for a total value of $66,807,743.86. Following the completion of the transaction, the chief executive officer now directly owns 889,836 shares in the company, valued at $75,297,922.32. The disclosure for this sale can be found here. Insiders sold a total of 949,387 shares of company stock worth $80,451,099 over the last three months. 0.67% of the stock is owned by company insiders.
Shares of American Express Company (NYSE:AXP) opened at 86.99 on Monday. American Express Company has a one year low of $59.50 and a one year high of $87.78. The company has a market capitalization of $76.90 billion, a P/E ratio of 17.84 and a beta of 1.18. The firm has a 50 day moving average price of $85.61 and a 200 day moving average price of $81.49.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. The company had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 EPS. On average, equities research analysts predict that American Express Company will post $5.74 EPS for the current fiscal year.
American Express declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization allows the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
AXP has been the topic of a number of recent analyst reports. Barclays PLC reissued a “buy” rating and issued a $83.00 price objective on shares of American Express in a research note on Thursday, July 20th. Guggenheim reissued a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of American Express in a research note on Saturday, July 22nd. BidaskClub raised American Express from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods set a $95.00 price objective on American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Finally, Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. American Express has an average rating of “Hold” and an average target price of $86.29.
American Express Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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