Wealth Alliance Sells 1,026 Shares of Lockheed Martin Co. (NYSE:LMT)

Wealth Alliance lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 25.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,964 shares of the aerospace company’s stock after selling 1,026 shares during the quarter. Wealth Alliance’s holdings in Lockheed Martin were worth $1,385,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its holdings in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin during the first quarter valued at about $30,000. Stephens Consulting LLC lifted its holdings in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Lockheed Martin during the second quarter valued at about $35,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.0 %

Shares of NYSE LMT opened at $567.07 on Wednesday. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $578.73. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm’s 50 day simple moving average is $539.25 and its two-hundred day simple moving average is $486.27. The stock has a market capitalization of $136.06 billion, a P/E ratio of 20.75, a PEG ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 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 analysts’ expectations of $17.05 billion. During the same period last year, the business earned $6.73 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared 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. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

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 value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of several recent research reports. Morgan Stanley upped their price objective 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. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Finally, Barclays increased their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued 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, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $553.43.

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.