SkyOak Wealth LLC Sells 900 Shares of Lockheed Martin Co. (NYSE:LMT)

SkyOak Wealth LLC lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 65.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 480 shares of the aerospace company’s stock after selling 900 shares during the quarter. SkyOak Wealth LLC’s holdings in Lockheed Martin were worth $224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Lockheed Martin by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after purchasing an additional 119,052 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after acquiring an additional 218,506 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Lockheed Martin by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 833,264 shares of the aerospace company’s stock worth $389,218,000 after acquiring an additional 2,942 shares in the last quarter. Finally, LSV Asset Management increased its stake in Lockheed Martin by 3.3% in the second quarter. LSV Asset Management now owns 505,427 shares of the aerospace company’s stock valued at $236,085,000 after acquiring an additional 16,280 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Morgan Stanley increased their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Barclays boosted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $500.00 to $600.00 in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Price Performance

LMT opened at $566.00 on Thursday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market capitalization of $135.80 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The stock’s 50 day moving average price is $541.35 and its 200-day moving average price is $486.83. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $578.73.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.23%. Lockheed Martin’s payout ratio is 46.10%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

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.