Lockheed Martin Co. (NYSE:LMT) Position Trimmed by Wharton Business Group LLC

Wharton Business Group LLC trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMTGet Rating) by 8.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,619 shares of the aerospace company’s stock after selling 150 shares during the period. Wharton Business Group LLC’s holdings in Lockheed Martin were worth $715,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP bought a new stake in Lockheed Martin during the fourth quarter worth approximately $25,000. Capital Advisory Group Advisory Services LLC acquired a new position in Lockheed Martin in the 1st quarter worth approximately $38,000. PARK CIRCLE Co acquired a new position in Lockheed Martin in the 4th quarter worth approximately $36,000. Simon Quick Advisors LLC boosted its stake in Lockheed Martin by 1,940.0% in the 1st quarter. Simon Quick Advisors LLC now owns 102 shares of the aerospace company’s stock worth $45,000 after purchasing an additional 97 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. acquired a new position in Lockheed Martin in the 4th quarter worth approximately $249,000. 75.50% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 2.2 %

Lockheed Martin stock opened at $409.33 on Wednesday. The company has a market capitalization of $108.53 billion, a P/E ratio of 23.69, a P/E/G ratio of 2.89 and a beta of 0.66. The firm’s fifty day simple moving average is $419.46 and its 200-day simple moving average is $432.79. The company has a current ratio of 1.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.02. Lockheed Martin Co. has a 1-year low of $324.23 and a 1-year high of $479.99.

Lockheed Martin (NYSE:LMTGet Rating) last released its quarterly earnings results on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). The business had revenue of $15.45 billion for the quarter, compared to the consensus estimate of $16.02 billion. Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.13 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 26.8 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be paid a $2.80 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $11.20 dividend on an annualized basis and a yield of 2.74%. Lockheed Martin’s payout ratio is presently 64.81%.

Analyst Ratings Changes

A number of research firms recently commented on LMT. Wells Fargo & Company decreased their price objective on shares of Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. Royal Bank of Canada started coverage on shares of Lockheed Martin in a research note on Monday, August 29th. They issued a “sector perform” rating and a $460.00 price objective for the company. Finally, Morgan Stanley cut their target price on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $448.92.

Insider Activity at Lockheed Martin

In related news, EVP Gregory M. Ulmer sold 6,929 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Gregory M. Ulmer sold 6,929 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Donovan bought 632 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was purchased at an average price of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the purchase, the director now directly owns 1,200 shares in the company, valued at approximately $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

About Lockheed Martin

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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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

See Also

Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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