Lockheed Martin Co. (NYSE:LMT) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,474 shares of the aerospace company’s stock after selling 974 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Lockheed Martin were worth $4,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. Franklin Resources Inc. raised its position in 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 buying an additional 336,588 shares during the period. Dimensional Fund Advisors LP grew its holdings in Lockheed Martin by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock valued at $470,536,000 after buying an additional 27,349 shares during the last quarter. Capital Research Global Investors raised its stake in Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Lockheed Martin by 1.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after purchasing an additional 9,136 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares during the period. Institutional investors own 74.19% of the company’s stock.

Insider Activity

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

Lockheed Martin Stock Down 0.5 %

LMT traded down $2.51 during trading on Tuesday, reaching $554.40. 196,850 shares of the stock were exchanged, compared to its average volume of 1,086,220. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock’s 50 day moving average price is $487.25 and its two-hundred day moving average price is $461.12. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $562.60. The stock has a market cap of $133.02 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued 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 company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $6.73 EPS. Equities analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued 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 is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Wall Street Analyst Weigh In

LMT has been the subject of several recent analyst reports. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. The Goldman Sachs Group dropped their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Barclays increased their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $541.85.

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.