Primoris Wealth Advisors LLC Grows Position in Lockheed Martin Co. (NYSE:LMT)

Primoris Wealth Advisors LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,956 shares of the aerospace company’s stock after acquiring an additional 78 shares during the quarter. Lockheed Martin comprises about 3.3% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Primoris Wealth Advisors LLC’s holdings in Lockheed Martin were worth $4,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Financial purchased a new stake in shares of Lockheed Martin in the first quarter valued at $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at $26,000. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC increased its position in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $1.25 during midday trading on Monday, hitting $568.10. 1,082,800 shares of the company traded hands, compared to its average volume of 1,071,270. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $569.09. The firm’s fifty day moving average price is $514.24 and its 200-day moving average price is $474.23. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market cap of $135.41 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 4.56 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping 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 company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the business posted $6.73 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

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 paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LMT. Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. UBS Group raised their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Susquehanna raised their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $541.85.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

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.