Fortis Capital Advisors LLC Has $522,000 Position in Lockheed Martin Co. (NYSE:LMT)

Fortis Capital Advisors LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 15.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,118 shares of the aerospace company’s stock after selling 206 shares during the period. Fortis Capital Advisors LLC’s holdings in Lockheed Martin were worth $522,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. HTLF Bank raised its holdings in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after acquiring an additional 20 shares in the last quarter. Goldstein Advisors LLC increased its position in shares of Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after purchasing an additional 21 shares during the last quarter. Hudock Inc. raised its stake in shares of Lockheed Martin by 1.3% during the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after purchasing an additional 22 shares in the last quarter. Lester Murray Antman dba SimplyRich boosted its holdings in shares of Lockheed Martin by 0.8% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 2,765 shares of the aerospace company’s stock valued at $1,291,000 after buying an additional 22 shares during the last quarter. Finally, Stephens Consulting LLC boosted its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Price Performance

Shares of LMT opened at $564.96 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a market cap of $135.56 billion, a PE ratio of 20.75, a PEG ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $572.00. The business has a 50-day simple moving average of $518.16 and a two-hundred day simple moving average of $476.26.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the previous year, the business posted $6.73 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by company insiders.

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.