Primoris Wealth Advisors LLC Sells 7,594 Shares of Lockheed Martin Corporation (NYSE:LMT)

Primoris Wealth Advisors LLC decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 94.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 473 shares of the aerospace company's stock after selling 7,594 shares during the quarter. Primoris Wealth Advisors LLC's holdings in Lockheed Martin were worth $211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin in the fourth quarter worth $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the fourth quarter valued at $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Lockheed Martin during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Down 0.0%

NYSE LMT opened at $458.23 on Friday. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The stock has a market capitalization of $107.36 billion, a PE ratio of 19.79, a PEG ratio of 1.60 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The business's 50-day moving average is $470.90 and its 200 day moving average is $467.16.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 57.02%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. 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. Finally, Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.