Axxcess Wealth Management LLC Sells 2,067 Shares of Lockheed Martin Corporation (NYSE:LMT)

Axxcess Wealth Management LLC trimmed its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 31.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,433 shares of the aerospace company's stock after selling 2,067 shares during the period. Axxcess Wealth Management LLC's holdings in Lockheed Martin were worth $1,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Court Place Advisors LLC increased its holdings in Lockheed Martin by 5.6% during the 1st quarter. Court Place Advisors LLC now owns 776 shares of the aerospace company's stock valued at $347,000 after purchasing an additional 41 shares in the last quarter. Slagle Financial LLC increased its holdings in Lockheed Martin by 2.2% during the 1st quarter. Slagle Financial LLC now owns 6,592 shares of the aerospace company's stock valued at $2,945,000 after purchasing an additional 145 shares in the last quarter. Chemung Canal Trust Co. increased its holdings in Lockheed Martin by 32.1% during the 1st quarter. Chemung Canal Trust Co. now owns 980 shares of the aerospace company's stock valued at $438,000 after purchasing an additional 238 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Lockheed Martin by 0.5% in the 1st quarter. Principal Securities Inc. now owns 9,398 shares of the aerospace company's stock valued at $4,567,000 after buying an additional 44 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Lockheed Martin by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 8,519 shares of the aerospace company's stock valued at $3,806,000 after buying an additional 47 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.7%

LMT stock traded up $3.17 during midday trading on Friday, hitting $467.48. 1,208,544 shares of the company's stock were exchanged, compared to its average volume of 1,364,460. The stock's fifty day moving average price is $469.54 and its 200-day moving average price is $465.01. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The company has a market cap of $109.53 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.63 and a beta of 0.28. Lockheed Martin Corporation has a one year low of $418.88 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. Research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.82%. Lockheed Martin's dividend payout ratio is presently 57.02%.

Wall Street Analyst Weigh In

LMT has been the subject of several research reports. Jefferies Financial Group lowered their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Monday, April 28th. UBS Group lifted their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Morgan Stanley raised 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. Royal Bank Of Canada cut Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Finally, Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $531.47.

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.