Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Modera Wealth Management LLC

Key Points

• Modera Wealth Management LLC has reduced its stake in Lockheed Martin by 4.0%, selling 1,308 shares during the first quarter, leaving it with 31,362 shares valued at approximately $14,010,000.
• Lockheed Martin reported quarterly earnings of $7.29 per share, surpassing analysts' expectations of $6.57, while revenue for the quarter was $18.16 billion, slightly below estimates.
• The company declared a quarterly dividend of $3.30 per share to be paid on September 26th, reflecting an annualized dividend of $13.20 and a dividend yield of 3.15%.

Modera Wealth Management LLC lessened its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,362 shares of the aerospace company's stock after selling 1,308 shares during the quarter. Modera Wealth Management LLC's holdings in Lockheed Martin were worth $14,010,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 49 Wealth Management LLC increased its position in shares of Lockheed Martin by 3.4% during the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after buying an additional 22 shares during the period. OMNI 360 Wealth Inc. boosted its position in shares of Lockheed Martin by 2.5% during the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after buying an additional 22 shares during the last quarter. Private Portfolio Partners LLC boosted its stake in shares of Lockheed Martin by 4.8% in the 4th quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock worth $244,000 after buying an additional 23 shares during the last quarter. Tealwood Asset Management Inc. boosted its stake in Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after acquiring an additional 23 shares during the last quarter. Finally, Southland Equity Partners LLC lifted its stake in Lockheed Martin by 3.1% in the first 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 last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a research report on Wednesday, April 16th. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. TD Cowen reaffirmed a "hold" rating and issued a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Robert W. Baird reduced their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reduced their target price on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has an average rating of "Hold" and an average target price of $506.65.

Lockheed Martin Price Performance

Shares of NYSE LMT traded down $1.34 during mid-day trading on Wednesday, hitting $418.79. 1,630,155 shares of the company's stock traded hands, compared to its average volume of 1,966,747. The company's 50-day moving average is $462.63 and its two-hundred day moving average is $461.70. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The company has a market capitalization of $97.77 billion, a P/E ratio of 23.58, a PEG ratio of 1.47 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

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 for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The business had revenue of $18.16 billion for 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%. The business's revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $7.11 earnings per share. On average, equities analysts anticipate 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 issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.15%. 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.