Secure Asset Management LLC Has $299,000 Position in Lockheed Martin Co. (NYSE:LMT)

Secure Asset Management LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 29.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 640 shares of the aerospace company’s stock after selling 272 shares during the quarter. Secure Asset Management LLC’s holdings in Lockheed Martin were worth $299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Pacific Financial acquired a new stake in Lockheed Martin in the 1st quarter worth about $25,000. Altshuler Shaham Ltd bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $26,000. Wiser Advisor Group LLC increased its position 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 purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin during the first quarter worth about $30,000. Finally, Thompson Investment Management Inc. acquired a new stake in Lockheed Martin during the first quarter worth about $38,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.4 %

LMT stock traded down $2.02 during trading on Friday, hitting $555.01. The company had a trading volume of 870,355 shares, compared to its average volume of 1,078,855. The stock has a market cap of $133.17 billion, a PE ratio of 20.31, a PEG ratio of 4.40 and a beta of 0.46. The business has a 50-day moving average of $504.16 and a 200-day moving average of $468.79. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $564.22.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company posted $6.73 earnings per share. Research analysts predict that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.27%. Lockheed Martin’s payout ratio is 46.10%.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LMT shares. Barclays upped their price target 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. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, Bank of America raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $465.00 to $635.00 in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $541.85.

Lockheed Martin 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.