Acorn Financial Advisory Services Inc. ADV Cuts Position in Lockheed Martin Corporation (NYSE:LMT)

Acorn Financial Advisory Services Inc. ADV trimmed its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 13.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,590 shares of the aerospace company's stock after selling 884 shares during the period. Lockheed Martin accounts for approximately 0.5% of Acorn Financial Advisory Services Inc. ADV's holdings, making the stock its 27th largest position. Acorn Financial Advisory Services Inc. ADV's holdings in Lockheed Martin were worth $2,497,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LMT. GAMMA Investing LLC raised its position in shares of Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after buying an additional 1,986,600 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Lockheed Martin in the fourth quarter worth about $526,587,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $451,985,000. Capital Research Global Investors bought a new position in Lockheed Martin during the fourth quarter valued at approximately $229,987,000. Finally, Demars Financial Group LLC boosted its stake in Lockheed Martin by 47,002.5% during the fourth quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company's stock valued at $210,579,000 after buying an additional 432,423 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Up 0.2%

LMT stock traded up $0.76 during trading on Friday, hitting $463.31. The company had a trading volume of 707,859 shares, compared to its average volume of 1,357,690. The firm has a market capitalization of $108.55 billion, a P/E ratio of 16.00, a PEG ratio of 1.61 and a beta of 0.28. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a 50 day simple moving average of $470.60 and a 200-day simple moving average of $465.69. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. As a group, research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is 57.02%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent research reports. Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Jefferies Financial Group lowered their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Company Profile

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.