Kingswood Wealth Advisors LLC Sells 8,035 Shares of Lockheed Martin Co. (NYSE:LMT)

Kingswood Wealth Advisors LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 56.8% in the 1st quarter, Holdings Channel reports. The firm owned 6,123 shares of the aerospace company’s stock after selling 8,035 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Lockheed Martin were worth $2,785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in Lockheed Martin during the 4th quarter valued at approximately $26,000. Activest Wealth Management grew its stake in Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares during the period. Iron Horse Wealth Management LLC raised its holdings in Lockheed Martin by 1,925.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 77 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in Lockheed Martin during the first quarter valued at $38,000. Finally, TFC Financial Management Inc. grew its position in shares of Lockheed Martin by 206.9% in the 4th quarter. TFC Financial Management Inc. now owns 89 shares of the aerospace company’s stock worth $40,000 after buying an additional 60 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on LMT. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. UBS Group boosted their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Citigroup raised their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group dropped their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $485.40.

Lockheed Martin Stock Performance

NYSE:LMT traded down $1.08 during mid-day trading on Wednesday, reaching $466.99. The company’s stock had a trading volume of 924,441 shares, compared to its average volume of 1,081,249. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The stock has a market cap of $112.05 billion, a P/E ratio of 17.09, a PEG ratio of 4.41 and a beta of 0.47. The firm’s fifty day moving average price is $464.34 and its two-hundred day moving average price is $450.00. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $479.50.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same quarter in the prior year, the firm earned $6.43 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts forecast that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

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.