Cornerstone Advisors LLC Sells 200 Shares of Lockheed Martin Co. (NYSE:LMT)

Cornerstone Advisors LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,300 shares of the aerospace company’s stock after selling 200 shares during the period. Cornerstone Advisors LLC’s holdings in Lockheed Martin were worth $7,614,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Sachetta LLC boosted its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC boosted its stake in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the 1st quarter worth approximately $30,000. Stephens Consulting LLC lifted its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Lockheed Martin during the second quarter valued at approximately $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $569.91 on Monday. The company has a market capitalization of $135.84 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 4.55 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock’s 50-day simple moving average is $534.89 and its 200-day simple moving average is $484.26. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period last year, the firm posted $6.73 EPS. The company’s revenue was up 8.6% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Susquehanna increased their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. UBS Group boosted their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

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.