KCM Investment Advisors LLC Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

KCM Investment Advisors LLC lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,282 shares of the aerospace company’s stock after selling 372 shares during the period. KCM Investment Advisors LLC’s holdings in Lockheed Martin were worth $2,467,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Stephens Consulting LLC raised its holdings in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares in the last quarter. Modera Wealth Management LLC lifted its position in Lockheed Martin by 0.3% during the 2nd quarter. Modera Wealth Management LLC now owns 42,296 shares of the aerospace company’s stock valued at $19,757,000 after acquiring an additional 112 shares during the period. Smith Salley Wealth Management lifted its position in Lockheed Martin by 0.6% during the 2nd quarter. Smith Salley Wealth Management now owns 4,738 shares of the aerospace company’s stock valued at $2,213,000 after acquiring an additional 27 shares during the period. TrueMark Investments LLC lifted its position in Lockheed Martin by 57.8% during the 2nd quarter. TrueMark Investments LLC now owns 2,818 shares of the aerospace company’s stock valued at $1,316,000 after acquiring an additional 1,032 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its position in Lockheed Martin by 5.9% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 3,020 shares of the aerospace company’s stock valued at $1,411,000 after acquiring an additional 169 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $568.25 on Friday. The firm has a 50 day moving average of $512.23 and a 200 day moving average of $472.54. 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 firm has a market capitalization of $136.34 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $569.09.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the business posted $6.73 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LMT. Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. UBS Group lifted their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $541.85.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

About Lockheed Martin

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.