AE Wealth Management LLC Lowers Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• AE Wealth Management LLC has reduced its stock holdings in Lockheed Martin by 32.9%, now owning 6,478 shares worth approximately $2.89 million.
• Lockheed Martin recently reported earnings of $7.29 per share, exceeding analysts' expectations, while also announcing a dividend of $3.30 per share to be paid to stockholders on September 26th.
• Lockheed Martin's stock has a current market capitalization of $98.43 billion and a consensus rating of "Hold" among analysts, with a target price of $506.65.

AE Wealth Management LLC cut its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 32.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,478 shares of the aerospace company's stock after selling 3,177 shares during the period. AE Wealth Management LLC's holdings in Lockheed Martin were worth $2,894,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LMT. TruNorth Capital Management LLC purchased a new position in shares of Lockheed Martin during the first quarter worth $31,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth $35,000. Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth $40,000. Banque Transatlantique SA acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at $43,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin in the first quarter valued at $43,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $1.05 during mid-day trading on Friday, hitting $421.60. 2,458,783 shares of the stock were exchanged, compared to its average volume of 1,823,272. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.91 and a current ratio of 0.98. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The stock's fifty day simple moving average is $465.80 and its two-hundred day simple moving average is $462.67. The stock has a market capitalization of $98.43 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 1.45 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the company posted $7.11 earnings per share. The business's revenue was up .2% on a year-over-year basis. On average, analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 74.32%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LMT shares. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday. Susquehanna reduced their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research note on Wednesday. Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a research note on Monday, July 14th. Finally, Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research note on Wednesday, April 16th. Fifteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $506.65.

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.