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% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in Lockheed Martin during the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin during the fourth quarter valued at about $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at about $35,000. Redwood Park Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Lockheed Martin during the fourth quarter valued at about $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.7%

Shares of LMT traded up $3.17 during midday trading on Friday, reaching $467.48. 1,208,544 shares of the stock were exchanged, compared to its average volume of 1,364,460. Lockheed Martin Corporation has a 12-month low of $418.88 and a 12-month high of $618.95. The firm has a 50 day simple moving average of $469.64 and a 200-day simple moving average of $465.15. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The company has a market cap of $109.53 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.63 and a beta of 0.28.

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

Lockheed Martin Dividend Announcement

The business 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 is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.82%. Lockheed Martin's dividend payout ratio (DPR) is currently 57.02%.

Analysts Set New Price Targets

LMT has been the subject of several research reports. Royal Bank Of Canada cut Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. TD Cowen reiterated a "hold" rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday. Wall Street Zen lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Wells Fargo & Company decreased their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group increased their price target on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Ten investment 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 stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Moderate Buy" and an average price target 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.