Parcion Private Wealth LLC Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Parcion Private Wealth LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 9.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,331 shares of the aerospace company’s stock after selling 132 shares during the quarter. Parcion Private Wealth LLC’s holdings in Lockheed Martin were worth $622,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. First Pacific Financial acquired a new position in Lockheed Martin in the first quarter valued at approximately $25,000. Wiser Advisor Group LLC boosted its holdings in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin in the first quarter valued at approximately $30,000. Stephens Consulting LLC boosted its holdings in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Lockheed Martin in the second quarter valued at approximately $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.3 %

Shares of NYSE:LMT traded down $1.96 during trading on Friday, reaching $566.63. The stock had a trading volume of 976,688 shares, compared to its average volume of 1,069,765. The business has a fifty day moving average price of $524.33 and a 200-day moving average price of $478.58. 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 $135.96 billion, a P/E ratio of 20.74, a PEG ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 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 return on equity of 95.03% and a net margin of 9.48%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.73 earnings per share. As a group, 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. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Susquehanna increased their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday. Finally, Barclays upped their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’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 sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is 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.