Sheaff Brock Investment Advisors LLC Lowers Position in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Sheaff Brock Investment Advisors LLC reduced its stake in Lockheed Martin Corporation by 76.7% in the first quarter, resulting in ownership of only 3,961 shares valued at approximately $1.77 million.
• A number of institutional investors increased their positions in Lockheed Martin, with First American Bank boosting its stake by 18.8% and Aquatic Capital Management adding a new position worth around $33.29 million.
• Lockheed Martin's latest earnings report topped estimates, showing an EPS of $7.29 compared to a consensus of $6.57, but revenue was slightly lower than expected at $18.16 billion.

Sheaff Brock Investment Advisors LLC lessened its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 76.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,961 shares of the aerospace company's stock after selling 13,004 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Lockheed Martin were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First American Bank lifted its stake in shares of Lockheed Martin by 18.8% in the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock valued at $3,749,000 after purchasing an additional 1,327 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $33,294,000. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in shares of Lockheed Martin by 18.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock valued at $7,652,000 after purchasing an additional 2,686 shares during the period. State of Wyoming lifted its stake in shares of Lockheed Martin by 93.9% in the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock valued at $541,000 after purchasing an additional 539 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Lockheed Martin by 3.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock valued at $49,893,000 after purchasing an additional 3,809 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LMT shares. UBS Group reduced their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reduced their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Stock Performance

Shares of LMT opened at $421.60 on Monday. 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 Corporation has a one year low of $410.11 and a one year high of $618.95. The firm has a market capitalization of $98.43 billion, a P/E ratio of 23.74, a PEG ratio of 1.48 and a beta of 0.28. The business has a fifty day moving average of $465.80 and a 200 day moving average of $462.62.

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

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.13%. Lockheed Martin's dividend payout ratio (DPR) is presently 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.

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