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

Wealthspire Advisors LLC decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,576 shares of the aerospace company’s stock after selling 394 shares during the quarter. Wealthspire Advisors LLC’s holdings in Lockheed Martin were worth $1,203,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LMT. Aveo Capital Partners LLC raised its stake in Lockheed Martin by 4.1% during the 4th quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock valued at $300,000 after buying an additional 26 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of Lockheed Martin by 111.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock worth $1,026,000 after acquiring an additional 1,209 shares during the period. TrinityPoint Wealth LLC increased its position in Lockheed Martin by 9.5% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,948 shares of the aerospace company’s stock valued at $1,789,000 after acquiring an additional 344 shares during the last quarter. ING Groep NV lifted its holdings in Lockheed Martin by 7.4% in the fourth quarter. ING Groep NV now owns 30,229 shares of the aerospace company’s stock valued at $13,701,000 after acquiring an additional 2,091 shares during the period. Finally, Gladstone Institutional Advisory LLC boosted its position in Lockheed Martin by 22.6% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 10,479 shares of the aerospace company’s stock worth $4,750,000 after purchasing an additional 1,932 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.3 %

NYSE LMT opened at $569.91 on Monday. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock has a market cap of $135.84 billion, a PE ratio of 20.85, a P/E/G ratio of 4.55 and a beta of 0.47. The stock’s 50 day moving average is $534.89 and its 200 day moving average is $484.26.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.73 earnings per share. Research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.21%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LMT shares. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the company from $540.00 to $600.00 in a research report on Friday, July 26th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Barclays boosted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Finally, Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin 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 completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is 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.