Lyell Wealth Management LP Reduces Stock Holdings in Lockheed Martin Corporation $LMT

Key Points

• Lyell Wealth Management LP reduced its holdings in Lockheed Martin Corporation by 44.3%, ending the second quarter with 1,538 shares valued at approximately $712,000.
• Lockheed Martin has declared an increased quarterly dividend of $3.45, up from the previous $3.30, with an annual yield of 2.7%.
• Analysts have mixed sentiments on Lockheed Martin's stock, with a consensus price target of $515.35 and various ratings including one Strong Buy, six Buy, and fifteen Hold ratings.

Lyell Wealth Management LP reduced its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 44.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,538 shares of the aerospace company's stock after selling 1,223 shares during the period. Lyell Wealth Management LP's holdings in Lockheed Martin were worth $712,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LMT. Brighton Jones LLC boosted its holdings in shares of Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after acquiring an additional 191 shares during the last quarter. Advisor Resource Council purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at $570,000. Childress Capital Advisors LLC boosted its holdings in shares of Lockheed Martin by 5.7% in the 1st quarter. Childress Capital Advisors LLC now owns 794 shares of the aerospace company's stock valued at $355,000 after acquiring an additional 43 shares during the last quarter. Ellis Investment Partners LLC boosted its holdings in Lockheed Martin by 20.0% during the first quarter. Ellis Investment Partners LLC now owns 641 shares of the aerospace company's stock worth $286,000 after buying an additional 107 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Lockheed Martin by 3.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 73,661 shares of the aerospace company's stock worth $32,905,000 after buying an additional 2,588 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 2.0%

Shares of Lockheed Martin stock opened at $505.20 on Tuesday. The firm has a market capitalization of $117.94 billion, a PE ratio of 28.45, a P/E/G ratio of 1.74 and a beta of 0.28. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The firm's 50-day moving average price is $473.51 and its 200 day moving average price is $465.36. 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 posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion for 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% on a year-over-year basis. During the same period last year, the firm posted $7.11 earnings per share. On average, sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be paid a $3.45 dividend. This is an increase from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's payout ratio is 74.32%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LMT. TD Cowen reiterated a "hold" rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Susquehanna increased their target price on shares of Lockheed Martin from $490.00 to $590.00 and gave the stock a "positive" rating in a research note on Thursday, October 9th. Truist Financial increased their target price on shares of Lockheed Martin from $440.00 to $500.00 and gave the stock a "hold" rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lockheed Martin has an average rating of "Hold" and a consensus price target of $515.35.

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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