Beverly Hills Private Wealth LLC Trims Stock Position in Lockheed Martin Corporation $LMT

Beverly Hills Private Wealth LLC lessened its holdings in Lockheed Martin Corporation (NYSE:LMT) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 920 shares of the aerospace company’s stock after selling 35 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Lockheed Martin were worth $426,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in shares of Lockheed Martin in the first quarter valued at approximately $31,000. Frazier Financial Advisors LLC acquired a new position in shares of Lockheed Martin in the second quarter valued at approximately $34,000. GFG Capital LLC acquired a new position in shares of Lockheed Martin in the second quarter valued at approximately $43,000. Bernard Wealth Management Corp. raised its position in shares of Lockheed Martin by 251.9% in the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock valued at $44,000 after buying an additional 68 shares during the last quarter. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $505.20 on Tuesday. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The company has a 50 day moving average price of $473.51 and a 200 day moving average price of $465.36. The firm has a market capitalization of $117.94 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 1.74 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the prior year, the business posted $7.11 earnings per share. Lockheed Martin’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be paid a dividend of $3.45 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, December 1st. Lockheed Martin’s payout ratio is presently 74.32%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LMT shares. The Goldman Sachs Group boosted their price objective on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Alembic Global Advisors raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. Deutsche Bank Aktiengesellschaft set a $519.00 price objective on shares of Lockheed Martin and gave the company a “hold” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein boosted their price objective on shares of Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a research report on Monday. Finally, Vertical Research reaffirmed a “hold” rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average target price of $515.35.

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.