Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Oak Grove Capital LLC

Key Points

• Oak Grove Capital LLC has reduced its stake in Lockheed Martin by 57.5% in the first quarter, holding 6,856 shares after selling 9,275 shares.
• Lockheed Martin has reported $7.29 EPS for the last quarter, exceeding the consensus estimate of $6.57 and showing a slight year-over-year revenue increase of 0.2%.
• The company announced a quarterly dividend of $3.30, with an annual yield of 3.0%, to be paid on September 26th.

Oak Grove Capital LLC decreased its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 57.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,856 shares of the aerospace company's stock after selling 9,275 shares during the period. Lockheed Martin makes up 0.6% of Oak Grove Capital LLC's portfolio, making the stock its 25th biggest position. Oak Grove Capital LLC's holdings in Lockheed Martin were worth $3,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of LMT. Ethic Inc. grew its stake in shares of Lockheed Martin by 9.9% in the 1st quarter. Ethic Inc. now owns 5,412 shares of the aerospace company's stock worth $2,428,000 after purchasing an additional 487 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Lockheed Martin by 10.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,529 shares of the aerospace company's stock worth $1,130,000 after purchasing an additional 229 shares during the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of Lockheed Martin by 17.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 386,007 shares of the aerospace company's stock worth $172,433,000 after purchasing an additional 56,335 shares during the last quarter. Aberdeen Group plc grew its stake in shares of Lockheed Martin by 10.5% in the 1st quarter. Aberdeen Group plc now owns 20,658 shares of the aerospace company's stock worth $9,232,000 after purchasing an additional 1,967 shares during the last quarter. Finally, Marathon Trading Investment Management LLC grew its stake in shares of Lockheed Martin by 155.0% in the 1st quarter. Marathon Trading Investment Management LLC now owns 10,200 shares of the aerospace company's stock worth $4,556,000 after purchasing an additional 6,200 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $437.95 on Friday. The company's 50 day moving average price is $452.51 and its 200 day moving average price is $456.88. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The company has a market capitalization of $102.24 billion, a PE ratio of 24.66, a PEG ratio of 1.55 and a beta of 0.27. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98.

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

Lockheed Martin Announces Dividend

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 given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 74.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LMT shares. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Cowen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. UBS Group dropped their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. TD Cowen reissued a "hold" rating and issued a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. Fifteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Hold" and a consensus price target of $506.65.

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.

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