Lockheed Martin Co. (NYSE:LMT) Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,242 shares of the aerospace company’s stock after selling 402 shares during the period. Belpointe Asset Management LLC’s holdings in Lockheed Martin were worth $2,916,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Strategy Asset Managers LLC increased its position in shares of Lockheed Martin by 10.9% during the 2nd quarter. Strategy Asset Managers LLC now owns 27,942 shares of the aerospace company’s stock worth $12,864,000 after purchasing an additional 2,744 shares during the last quarter. Larson Financial Group LLC lifted its stake in Lockheed Martin by 14.0% during the second quarter. Larson Financial Group LLC now owns 441 shares of the aerospace company’s stock worth $206,000 after purchasing an additional 54 shares in the last quarter. Financial Enhancement Group LLC purchased a new position in shares of Lockheed Martin during the second quarter worth $206,000. Simon Quick Advisors LLC grew its stake in shares of Lockheed Martin by 56.4% in the second quarter. Simon Quick Advisors LLC now owns 768 shares of the aerospace company’s stock valued at $359,000 after buying an additional 277 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Lockheed Martin by 16.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 16,689 shares of the aerospace company’s stock valued at $7,795,000 after buying an additional 2,376 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT traded up $8.57 during trading hours on Wednesday, reaching $575.79. The company had a trading volume of 274,195 shares, compared to its average volume of 1,067,733. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a 50 day simple moving average of $518.16 and a 200-day simple moving average of $476.26. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $578.12. The company has a market capitalization of $138.15 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 4.56 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the firm earned $6.73 EPS. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company 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 dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.19%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Susquehanna raised their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday. Barclays lifted their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’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 completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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.