Lockheed Martin Co. (NYSE:LMT) Shares Sold by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,061 shares of the aerospace company’s stock after selling 38 shares during the quarter. Lockheed Martin accounts for about 1.5% of Boomfish Wealth Group LLC’s holdings, making the stock its 25th largest holding. Boomfish Wealth Group LLC’s holdings in Lockheed Martin were worth $2,364,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in shares of Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lockheed Martin by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock valued at $470,536,000 after purchasing an additional 27,349 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after buying an additional 218,506 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Lockheed Martin by 1.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after buying an additional 9,136 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after buying an additional 274,680 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.0 %

NYSE:LMT traded down $0.16 during mid-day trading on Friday, hitting $560.13. The stock had a trading volume of 912,022 shares, compared to its average volume of 1,086,350. The stock has a 50-day simple moving average of $494.65 and a two-hundred day simple moving average of $464.56. The company has a market capitalization of $134.40 billion, a PE ratio of 20.50, a PEG ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $564.22. 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 (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for 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%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $6.73 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.25%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $541.85.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on 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 directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

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.