Foundations Investment Advisors LLC Sells 16,257 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Foundations Investment Advisors LLC significantly reduced its stock position in Lockheed Martin by 75.9%, leaving it with 5,174 shares valued at approximately $2.31 million.
• Analysts are divided on Lockheed Martin, with Baird R W upgrading the stock to a "strong-buy" while others like Truist Financial and Wall Street Zen have downgraded their ratings.
• Lockheed Martin recently reported earnings of $7.29 per share, exceeding expectations, and announced a quarterly dividend of $3.30 to be paid on September 26th.

Foundations Investment Advisors LLC lowered its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 75.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,174 shares of the aerospace company's stock after selling 16,257 shares during the period. Foundations Investment Advisors LLC's holdings in Lockheed Martin were worth $2,311,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LMT. 49 Wealth Management LLC increased its holdings in Lockheed Martin by 3.4% in the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after purchasing an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. increased its holdings in Lockheed Martin by 2.5% during the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after purchasing an additional 22 shares during the last quarter. Private Portfolio Partners LLC grew its holdings in Lockheed Martin by 4.8% during the 4th quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock worth $244,000 after acquiring an additional 23 shares in the last quarter. Tealwood Asset Management Inc. grew its stake in Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after purchasing an additional 23 shares in the last quarter. Finally, Southland Equity Partners LLC raised its position in shares of Lockheed Martin by 3.1% during the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after acquiring an additional 23 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $1.34 during midday trading on Wednesday, hitting $418.79. 1,630,155 shares of the company traded hands, compared to its average volume of 1,966,747. The firm's fifty day moving average price is $462.63 and its 200-day moving average price is $461.70. The stock has a market cap of $97.77 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.47 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 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.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. UBS Group cut their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Royal Bank Of Canada dropped their price objective on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday. Fifteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and a consensus target price of $506.65.

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.