Wealthspire Advisors LLC Lowers Stock Position in Lockheed Martin Co. (NYSE:LMT)

Wealthspire Advisors LLC lowered its position in Lockheed Martin Co. (NYSE:LMT) by 83.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 754 shares of the aerospace company’s stock after selling 3,688 shares during the period. Wealthspire Advisors LLC’s holdings in Lockheed Martin were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. K.J. Harrison & Partners Inc grew its position in Lockheed Martin by 1.0% during the first quarter. K.J. Harrison & Partners Inc now owns 2,780 shares of the aerospace company’s stock valued at $1,027,000 after buying an additional 27 shares during the period. Marotta Asset Management grew its position in Lockheed Martin by 3.6% during the second quarter. Marotta Asset Management now owns 777 shares of the aerospace company’s stock valued at $295,000 after buying an additional 27 shares during the period. Kovack Advisors Inc. grew its position in Lockheed Martin by 0.6% during the second quarter. Kovack Advisors Inc. now owns 4,905 shares of the aerospace company’s stock valued at $1,856,000 after buying an additional 27 shares during the period. Budros Ruhlin & Roe Inc. grew its position in Lockheed Martin by 0.6% during the second quarter. Budros Ruhlin & Roe Inc. now owns 5,045 shares of the aerospace company’s stock valued at $1,909,000 after buying an additional 29 shares during the period. Finally, Lehman & Derafelo Financial Resources LLC grew its position in Lockheed Martin by 4.2% during the first quarter. Lehman & Derafelo Financial Resources LLC now owns 749 shares of the aerospace company’s stock valued at $277,000 after buying an additional 30 shares during the period. Institutional investors own 74.51% of the company’s stock.

Several equities analysts recently weighed in on LMT shares. The Goldman Sachs Group lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and set a $402.00 price target for the company. in a research report on Thursday, September 23rd. Credit Suisse Group reiterated a “neutral” rating and set a $370.20 target price (down previously from $394.00) on shares of Lockheed Martin in a research report on Tuesday, July 27th. Wells Fargo & Company increased their target price on shares of Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 27th. Jefferies Financial Group reiterated a “neutral” rating on shares of Lockheed Martin in a research report on Friday, September 10th. Finally, Cowen lowered shares of Lockheed Martin from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $400.00 to $375.00 in a research report on Wednesday, September 29th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $396.03.

LMT stock opened at $361.76 on Thursday. The firm has a 50 day moving average of $353.25 and a 200-day moving average of $371.76. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.79. Lockheed Martin Co. has a 12 month low of $319.81 and a 12 month high of $396.99. The firm has a market capitalization of $100.18 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 3.23 and a beta of 0.98.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Sunday, July 25th. The aerospace company reported $6.52 EPS for the quarter, missing analysts’ consensus estimates of $6.53 by ($0.01). Lockheed Martin had a net margin of 10.69% and a return on equity of 123.35%. The firm had revenue of $17.03 billion during the quarter, compared to the consensus estimate of $16.93 billion. During the same quarter last year, the business posted $5.79 earnings per share. Lockheed Martin’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 23.45 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 27th. Investors of record on Wednesday, December 1st will be paid a $2.80 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.60. This represents a $11.20 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Tuesday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is currently 41.87%.

Lockheed Martin announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 23rd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Lockheed Martin Company Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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