Prime Capital Investment Advisors LLC Sells 2,493 Shares of Lockheed Martin Co. (NYSE:LMT)

Prime Capital Investment Advisors LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,364 shares of the aerospace company's stock after selling 2,493 shares during the period. Prime Capital Investment Advisors LLC's holdings in Lockheed Martin were worth $11,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company's stock worth $1,173,641,000 after buying an additional 336,588 shares in the last quarter. Capital Research Global Investors grew its position in Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company's stock worth $433,621,000 after acquiring an additional 218,506 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Lockheed Martin by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 833,264 shares of the aerospace company's stock valued at $389,218,000 after acquiring an additional 2,942 shares during the last quarter. Corient Private Wealth LLC raised its position in Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company's stock valued at $260,169,000 after purchasing an additional 274,680 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Lockheed Martin by 3.3% during the second quarter. LSV Asset Management now owns 505,427 shares of the aerospace company's stock worth $236,085,000 after purchasing an additional 16,280 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LMT has been the topic of several recent research reports. Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Bank of America reaffirmed a "buy" rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada raised shares of Lockheed Martin from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, Susquehanna raised their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a "positive" rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of "Moderate Buy" and an average price target of $553.43.

Lockheed Martin Stock Up 0.3 %

Shares of LMT traded up $1.64 on Friday, reaching $569.91. The stock had a trading volume of 638,809 shares, compared to its average volume of 1,060,754. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a market capitalization of $135.84 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company has a 50-day simple moving average of $534.89 and a 200-day simple moving average of $484.26. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $578.73.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm 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%. The business's revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $6.73 earnings per share. Sell-side analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

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 given a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.21%. Lockheed Martin's payout ratio is currently 46.10%.

Insider Activity

In other Lockheed Martin 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 owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company's stock.

Lockheed Martin Company 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.