Atria Wealth Solutions Inc. Sells 4,237 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Lockheed Martin by 11.4%, now holding 32,803 shares worth approximately $14.65 million.
• Lockheed Martin's recent earnings surpassed expectations, reporting $7.29 earnings per share against a consensus estimate of $6.57.
• The company declared a quarterly dividend of $3.30 per share, yielding approximately 3.1%, with a payout ratio of 74.32%.

Atria Wealth Solutions Inc. reduced its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,803 shares of the aerospace company's stock after selling 4,237 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Lockheed Martin were worth $14,654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after buying an additional 1,986,600 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $526,587,000. Leigh Baldwin & CO. LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $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 holdings in Lockheed Martin by 47,002.5% in the fourth quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company's stock worth $210,579,000 after purchasing an additional 432,423 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research reports. UBS Group decreased their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a research note on Wednesday, April 16th. Finally, Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and decreased their target price for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $506.65.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $5.07 during midday trading on Friday, hitting $425.68. The company had a trading volume of 1,477,499 shares, compared to its average volume of 2,270,781. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The company has a market cap of $99.38 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.51 and a beta of 0.27. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a fifty day moving average of $456.14 and a two-hundred day moving average of $458.67.

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

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.1%. Lockheed Martin's dividend payout ratio is currently 74.32%.

Lockheed Martin 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.