WESPAC Advisors SoCal LLC Lowers Position in Lockheed Martin Co. (NYSE:LMT)

WESPAC Advisors SoCal LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 15.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,750 shares of the aerospace company’s stock after selling 695 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Lockheed Martin were worth $1,706,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after buying an additional 279,162 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Lockheed Martin by 4.0% during the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after buying an additional 121,358 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after acquiring an additional 336,588 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after acquiring an additional 1,349,409 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Lockheed Martin by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock valued at $470,536,000 after acquiring an additional 27,349 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. UBS Group upped their price objective on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Citigroup upped their price objective on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Price Performance

LMT stock traded down $0.66 during midday trading on Monday, reaching $466.44. The stock had a trading volume of 562,385 shares, compared to its average volume of 1,094,605. The company’s fifty day simple moving average is $464.84 and its 200 day simple moving average is $450.33. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The company has a market cap of $111.92 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $479.50.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. The company had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $6.43 EPS. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.17 earnings per share 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. Shareholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

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.