Lockheed Martin Co. (NYSE:LMT) Position Reduced by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 8.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,474 shares of the aerospace company’s stock after selling 974 shares during the period. Sequoia Financial Advisors LLC’s holdings in Lockheed Martin were worth $4,893,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the period. Warther Private Wealth LLC grew its stake in Lockheed Martin by 86.1% during the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after buying an additional 7,575 shares during the last quarter. Morningstar Investment Services LLC increased its position in Lockheed Martin by 99.6% in the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after buying an additional 73,774 shares during the period. Cercano Management LLC bought a new stake in Lockheed Martin in the fourth quarter valued at $29,454,000. Finally, Brevan Howard Capital Management LP boosted its holdings in shares of Lockheed Martin by 414.2% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after acquiring an additional 5,736 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.5 %

Shares of NYSE:LMT traded down $2.51 during trading on Tuesday, hitting $554.40. 196,850 shares of the company’s stock traded hands, compared to its average volume of 1,086,220. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $562.60. 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 company has a 50-day moving average price of $487.25 and a 200-day moving average price of $461.12. The company has a market cap of $133.02 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced 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 business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.73 earnings per share. As a group, research analysts forecast that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated 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 sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. UBS Group upped their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $541.85.

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.