Valeo Financial Advisors LLC Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Valeo Financial Advisors LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 15,244 shares of the aerospace company’s stock after selling 647 shares during the period. Valeo Financial Advisors LLC’s holdings in Lockheed Martin were worth $6,934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMT. Hodges Capital Management Inc. purchased a new stake in Lockheed Martin during the 3rd quarter worth approximately $369,000. Axxcess Wealth Management LLC raised its holdings in Lockheed Martin by 202.4% in the third quarter. Axxcess Wealth Management LLC now owns 7,854 shares of the aerospace company’s stock valued at $3,212,000 after acquiring an additional 5,257 shares in the last quarter. AXQ Capital LP bought a new position in Lockheed Martin during the 3rd quarter valued at $982,000. Alps Advisors Inc. boosted its stake in Lockheed Martin by 11.2% during the 3rd quarter. Alps Advisors Inc. now owns 17,698 shares of the aerospace company’s stock valued at $7,238,000 after acquiring an additional 1,785 shares during the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. increased its position in shares of Lockheed Martin by 2.0% in the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 40,254 shares of the aerospace company’s stock worth $16,462,000 after purchasing an additional 801 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT stock traded up $0.33 during mid-day trading on Wednesday, reaching $466.03. The company had a trading volume of 312,839 shares, compared to its average volume of 1,083,786. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The stock has a market capitalization of $111.82 billion, a P/E ratio of 17.00, a P/E/G ratio of 4.40 and a beta of 0.46. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The stock’s 50-day simple moving average is $465.05 and its two-hundred day simple moving average is $450.65.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same period last year, the firm posted $6.43 EPS. Lockheed Martin’s quarterly revenue was up 13.7% compared to the same quarter last year. Research analysts anticipate that Lockheed Martin Co. will post 26.17 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analysts Set New Price Targets

Several equities analysts have recently commented on LMT shares. Citigroup increased their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company raised their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group lowered their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $485.40.

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.