Parcion Private Wealth LLC Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

Parcion Private Wealth LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,331 shares of the aerospace company’s stock after selling 132 shares during the quarter. Parcion Private Wealth LLC’s holdings in Lockheed Martin were worth $622,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LMT. First Pacific Financial purchased a new position in shares of Lockheed Martin in the first quarter worth approximately $25,000. Wiser Advisor Group LLC boosted its holdings in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the first quarter worth approximately $30,000. Stephens Consulting LLC boosted its holdings 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 worth $31,000 after buying an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Lockheed Martin in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT traded down $1.96 during trading on Friday, reaching $566.63. 976,688 shares of the company’s stock were exchanged, compared to its average volume of 1,069,765. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a market capitalization of $135.96 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 4.56 and a beta of 0.46. The company’s fifty day simple moving average is $524.33 and its 200-day simple moving average is $478.58.

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

Lockheed Martin Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.22%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LMT shares. Susquehanna boosted their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Barclays boosted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. UBS Group boosted their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $500.00 to $600.00 in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.