International Assets Investment Management LLC Reduces Stake in Lockheed Martin Corporation $LMT

Key Points

• International Assets Investment Management LLC reduced its stake in Lockheed Martin Corporation by 42.7%, now holding 2,121 shares worth approximately $982,000.
• Lockheed Martin reported earnings per share of $7.29 for the last quarter, exceeding the consensus estimate by $0.72.
• The company announced an increase in its quarterly dividend to $3.45, with an ex-dividend date of December 1st.

International Assets Investment Management LLC reduced its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 42.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,121 shares of the aerospace company's stock after selling 1,582 shares during the quarter. International Assets Investment Management LLC's holdings in Lockheed Martin were worth $982,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LMT. Brighton Jones LLC grew its holdings in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after purchasing an additional 191 shares during the period. Advisor Resource Council acquired a new stake in Lockheed Martin in the 1st quarter valued at about $570,000. Childress Capital Advisors LLC raised its position in shares of Lockheed Martin by 5.7% during the 1st quarter. Childress Capital Advisors LLC now owns 794 shares of the aerospace company's stock worth $355,000 after acquiring an additional 43 shares in the last quarter. Ellis Investment Partners LLC raised its position in shares of Lockheed Martin by 20.0% during the 1st quarter. Ellis Investment Partners LLC now owns 641 shares of the aerospace company's stock worth $286,000 after acquiring an additional 107 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Lockheed Martin by 3.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 73,661 shares of the aerospace company's stock worth $32,905,000 after buying an additional 2,588 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $505.20 on Tuesday. The stock has a market cap of $117.94 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 1.74 and a beta of 0.28. The business has a fifty day simple moving average of $473.51 and a 200-day simple moving average of $465.36. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. 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 data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period last year, the company earned $7.11 earnings per share. Lockheed Martin's quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be paid a $3.45 dividend. The ex-dividend date is Monday, December 1st. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.7%. Lockheed Martin's dividend payout ratio is presently 74.32%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on Lockheed Martin from $440.00 to $525.00 and gave the stock a "sector perform" rating in a research report on Tuesday, October 7th. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, UBS Group set a $545.00 price objective on Lockheed Martin in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $515.35.

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.

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