Doyle Wealth Management Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Doyle Wealth Management cut its stake in Lockheed Martin Co. (NYSE:LMTGet Rating) by 15.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,586 shares of the aerospace company’s stock after selling 490 shares during the period. Doyle Wealth Management’s holdings in Lockheed Martin were worth $1,141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Western Pacific Wealth Management LP bought a new position in shares of Lockheed Martin in the 4th quarter worth about $25,000. Capital Advisory Group Advisory Services LLC bought a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $38,000. PARK CIRCLE Co purchased a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $36,000. Simon Quick Advisors LLC raised its stake in Lockheed Martin by 1,940.0% during the first quarter. Simon Quick Advisors LLC now owns 102 shares of the aerospace company’s stock valued at $45,000 after buying an additional 97 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. bought a new stake in Lockheed Martin in the fourth quarter worth $249,000. Hedge funds and other institutional investors own 75.50% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $419.65 on Friday. Lockheed Martin Co. has a one year low of $324.23 and a one year high of $479.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.06 and a current ratio of 1.27. The stock has a market cap of $111.27 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.88 and a beta of 0.66. The stock has a 50 day moving average price of $420.12 and a 200-day moving average price of $432.08.

Lockheed Martin (NYSE:LMTGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $1.16 EPS for the quarter, missing the consensus estimate of $6.39 by ($5.23). Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. The company had revenue of $15.45 billion during the quarter, compared to analysts’ expectations of $16.02 billion. During the same quarter in the prior year, the company posted $7.13 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts expect that Lockheed Martin Co. will post 26.8 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be given a dividend of $2.80 per share. This represents a $11.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, August 31st. Lockheed Martin’s payout ratio is 64.81%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LMT. Wells Fargo & Company lowered their price target on Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. Royal Bank of Canada assumed coverage on shares of Lockheed Martin in a report on Monday, August 29th. They issued a “sector perform” rating and a $460.00 price objective for the company. Finally, Morgan Stanley reduced their target price on Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $448.92.

Insider Activity at Lockheed Martin

In related news, EVP Gregory M. Ulmer sold 6,929 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director John Donovan purchased 632 shares of the stock in a transaction dated Wednesday, July 20th. The shares were purchased at an average price of $396.16 per share, with a total value of $250,373.12. Following the transaction, the director now owns 1,200 shares in the company, valued at approximately $475,392. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory M. Ulmer sold 6,929 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total transaction of $2,936,995.23. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Company Profile

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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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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