Lockheed Martin Corporation (NYSE:LMT) Position Cut by Kovack Advisors Inc.

Kovack Advisors Inc. lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 28.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,937 shares of the aerospace company's stock after selling 779 shares during the period. Kovack Advisors Inc.'s holdings in Lockheed Martin were worth $865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 49 Wealth Management LLC raised its position in Lockheed Martin by 3.4% in the first 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 during the period. OMNI 360 Wealth Inc. boosted its position in shares of 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 acquiring an additional 22 shares in the last quarter. Private Portfolio Partners LLC boosted its position in shares of 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. boosted its position in shares of Lockheed Martin by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after purchasing an additional 23 shares during the period. Finally, Southland Equity Partners LLC boosted its position in shares of Lockheed Martin by 3.1% in the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several analyst reports. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Royal Bank Of Canada dropped their price target on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their price objective 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, Jefferies Financial Group lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Stock Up 0.2%

Shares of NYSE:LMT traded up $1.05 during trading on Friday, hitting $421.60. The company's stock had a trading volume of 2,458,783 shares, compared to its average volume of 1,823,272. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.91 and a current ratio of 0.98. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The stock's 50-day moving average price is $465.80 and its two-hundred day moving average price is $462.71. The company has a market capitalization of $98.43 billion, a PE ratio of 23.74, a PEG ratio of 1.45 and a beta of 0.28.

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, beating the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to analysts' expectations 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 for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.11 earnings per share. As a group, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Lockheed Martin Company 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.