Apriem Advisors Sells 2,017 Shares of Lockheed Martin Corporation $LMT

Apriem Advisors trimmed its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 11.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,785 shares of the aerospace company’s stock after selling 2,017 shares during the period. Apriem Advisors’ holdings in Lockheed Martin were worth $7,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC increased its position in Lockheed Martin by 285.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 40 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $27,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Lockheed Martin during the second quarter worth $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Lockheed Martin during the third quarter valued at $35,000. Finally, MTM Investment Management LLC bought a new position in shares of Lockheed Martin in the 2nd quarter valued at about $36,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

LMT opened at $659.80 on Tuesday. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $669.75. The stock has a market cap of $151.81 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 1.19 and a beta of 0.23. The business has a 50 day moving average of $567.39 and a 200-day moving average of $504.43. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the business posted $7.67 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be paid a $3.45 dividend. The ex-dividend date is Monday, March 2nd. This represents a $13.80 annualized dividend and a dividend yield of 2.1%. Lockheed Martin’s dividend payout ratio is 64.22%.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $654.00 price target on shares of Lockheed Martin in a research note on Friday, February 6th. Jefferies Financial Group raised their target price on Lockheed Martin from $540.00 to $630.00 and gave the stock a “hold” rating in a report on Sunday, February 1st. TD Cowen boosted their price objective on shares of Lockheed Martin from $600.00 to $670.00 and gave the company a “hold” rating in a report on Friday, January 30th. Royal Bank Of Canada lifted their price objective on Lockheed Martin from $615.00 to $650.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $612.50.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.