Lockheed Martin Corporation (NYSE:LMT) Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in Lockheed Martin by 2.8%, selling 11,424 shares, bringing its total holdings to 399,782 shares valued at approximately $178.59 million.
• Lockheed Martin reported a Q2 earnings per share of $7.29, exceeding estimates of $6.57, with a revenue of $18.16 billion, slightly below the expected $18.59 billion.
• The company declared a quarterly dividend of $3.30 per share, representing a dividend yield of 3.1%, with a payout ratio of 74.32%.

HighTower Advisors LLC lessened its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 399,782 shares of the aerospace company's stock after selling 11,424 shares during the quarter. HighTower Advisors LLC owned about 0.17% of Lockheed Martin worth $178,587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $31,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth $35,000. Banque Transatlantique SA acquired a new stake in Lockheed Martin during the fourth quarter worth $43,000. EQ Wealth Advisors LLC acquired a new stake in Lockheed Martin during the first quarter worth $43,000. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new stake in Lockheed Martin during the first quarter worth $45,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. Susquehanna cut their target price on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Robert W. Baird lowered their price target 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. Fifteen investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $506.65.

Lockheed Martin Stock Down 1.0%

NYSE:LMT traded down $4.62 during midday trading on Thursday, reaching $437.95. The company had a trading volume of 1,590,400 shares, compared to its average volume of 1,682,737. The firm has a market capitalization of $102.24 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.51 and a beta of 0.27. The stock's fifty day simple moving average is $453.30 and its 200-day simple moving average is $457.33. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

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

Lockheed Martin Announces Dividend

The firm also recently declared 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. This represents a $13.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is 74.32%.

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.