Beacon Investment Advisory Services Inc. Sells 895 Shares of Lockheed Martin Corporation (NYSE:LMT)

Beacon Investment Advisory Services Inc. lessened its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 36.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,533 shares of the aerospace company's stock after selling 895 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Lockheed Martin were worth $685,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new position in Lockheed Martin in the 1st quarter valued at approximately $31,000. Millstone Evans Group LLC bought a new position in Lockheed Martin in the 4th quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at approximately $35,000. Finally, Redwood Park Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at approximately $40,000. Institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LMT. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. cut their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday. Wall Street Zen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday. Vertical Research reaffirmed a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday. Finally, TD Cowen reaffirmed a "hold" rating and issued a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Fifteen 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's stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of "Hold" and an average price target of $506.65.

Lockheed Martin Stock Performance

LMT traded up $1.05 during trading on Friday, hitting $421.60. The company's stock had a trading volume of 2,458,783 shares, compared to its average volume of 1,823,272. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The firm has a market cap of $98.43 billion, a PE ratio of 23.74, a P/E/G ratio of 1.45 and a beta of 0.28. The business's 50 day simple moving average is $465.80 and its 200-day simple moving average is $462.67.

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

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.13%. Lockheed Martin's 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.