First Foundation Advisors Has $1.21 Million Stake in Lockheed Martin Co. (NYSE:LMT)

First Foundation Advisors lowered its position in Lockheed Martin Co. (NYSE:LMT) by 14.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,590 shares of the aerospace company’s stock after selling 448 shares during the quarter. First Foundation Advisors’ holdings in Lockheed Martin were worth $1,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aveo Capital Partners LLC boosted its stake in shares of Lockheed Martin by 4.1% during the 4th quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after acquiring an additional 26 shares during the period. Gryphon Financial Partners LLC raised its position in shares of Lockheed Martin by 111.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock valued at $1,026,000 after purchasing an additional 1,209 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of Lockheed Martin by 4.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 4,695 shares of the aerospace company’s stock worth $2,128,000 after buying an additional 182 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Lockheed Martin by 7.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 38,753 shares of the aerospace company’s stock worth $17,564,000 after buying an additional 2,751 shares during the last quarter. Finally, Partnership Wealth Management LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $43,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $576.55 on Tuesday. The stock has a fifty day moving average of $526.54 and a 200-day moving average of $480.36. The stock has a market capitalization of $137.43 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73.

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

Lockheed Martin Announces Dividend

The business also recently announced 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 of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.19%. Lockheed Martin’s payout ratio is presently 46.10%.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LMT shares. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. UBS Group upped 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. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, Susquehanna increased their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. One equities research 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 stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $553.43.

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.