First Foundation Advisors Has $1.21 Million Stake in Lockheed Martin Co. (NYSE:LMT)

First Foundation Advisors reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 14.7% in the 2nd quarter, Holdings Channel reports. The firm owned 2,590 shares of the aerospace company’s stock after selling 448 shares during the quarter. First Foundation Advisors’ holdings in Lockheed Martin were worth $1,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC lifted its position in shares of Lockheed Martin by 93.7% in the 2nd quarter. Quest Partners LLC now owns 7,813 shares of the aerospace company’s stock worth $3,649,000 after purchasing an additional 3,780 shares during the period. X Square Capital LLC lifted its holdings in Lockheed Martin by 1.3% in the second quarter. X Square Capital LLC now owns 2,105 shares of the aerospace company’s stock valued at $983,000 after buying an additional 28 shares during the period. LSV Asset Management lifted its holdings 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 buying an additional 16,280 shares during the period. Morton Community Bank boosted its position in Lockheed Martin by 4.7% during the second quarter. Morton Community Bank now owns 8,133 shares of the aerospace company’s stock valued at $3,799,000 after acquiring an additional 363 shares during the last quarter. Finally, MRA Advisory Group grew its holdings in Lockheed Martin by 31.3% during the 2nd quarter. MRA Advisory Group now owns 923 shares of the aerospace company’s stock worth $431,000 after acquiring an additional 220 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

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 shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $576.55 on Tuesday. The company has a market capitalization of $137.43 billion, a PE ratio of 21.10, a PEG ratio of 4.55 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock’s 50 day moving average price is $526.54 and its 200-day moving average price is $480.36. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73.

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

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.19%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Wall Street Analyst Weigh In

LMT has been the topic of several research analyst reports. UBS Group upped their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Barclays increased their target price 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. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

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.