Savvy Advisors Inc. Sells 1,006 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Savvy Advisors Inc. reduced its stake in Lockheed Martin by 39%, selling 1,006 shares and retaining 1,574 shares valued at approximately $703,000 after the sale.
• Lockheed Martin reported $7.29 EPS for the last quarter, exceeding analysts' expectations of $6.57, although revenue of $18.16 billion fell slightly short of the forecast.
• The company declared a quarterly dividend of $3.30 per share, showing an annualized yield of 3.1% with a payout ratio of 74.32%.

Savvy Advisors Inc. trimmed its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 39.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,574 shares of the aerospace company's stock after selling 1,006 shares during the period. Savvy Advisors Inc.'s holdings in Lockheed Martin were worth $703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Lockheed Martin by 11.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 384,263 shares of the aerospace company's stock valued at $171,654,000 after purchasing an additional 40,007 shares during the period. Y.D. More Investments Ltd raised its position in shares of Lockheed Martin by 794.4% during the 1st quarter. Y.D. More Investments Ltd now owns 322 shares of the aerospace company's stock valued at $144,000 after purchasing an additional 286 shares during the period. WealthPlan Investment Management LLC raised its position in shares of Lockheed Martin by 15.7% during the 1st quarter. WealthPlan Investment Management LLC now owns 18,143 shares of the aerospace company's stock valued at $8,105,000 after purchasing an additional 2,456 shares during the period. Evernest Financial Advisors LLC raised its position in shares of Lockheed Martin by 1.6% during the 1st quarter. Evernest Financial Advisors LLC now owns 2,408 shares of the aerospace company's stock valued at $1,076,000 after purchasing an additional 37 shares during the period. Finally, Ironwood Investment Counsel LLC raised its position in shares of Lockheed Martin by 6.5% during the 1st quarter. Ironwood Investment Counsel LLC now owns 15,311 shares of the aerospace company's stock valued at $6,840,000 after purchasing an additional 931 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

LMT stock opened at $425.68 on Friday. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The company has a 50-day moving average price of $456.14 and a 200 day moving average price of $458.67. The stock has a market cap of $99.38 billion, a PE ratio of 23.97, a P/E/G ratio of 1.51 and a beta of 0.27.

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

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.1%. Lockheed Martin's payout ratio is currently 74.32%.

Wall Street Analyst Weigh In

LMT has been the topic of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Susquehanna reduced their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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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