Primoris Wealth Advisors LLC Trims Stake in Lockheed Martin Corporation (NYSE:LMT)

Primoris Wealth Advisors LLC lowered its position in Lockheed Martin Corporation (NYSE:LMT) by 94.1% in the 1st quarter, Holdings Channel reports. The fund owned 473 shares of the aerospace company’s stock after selling 7,594 shares during the quarter. Primoris Wealth Advisors LLC’s holdings in Lockheed Martin were worth $211,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LMT. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the fourth quarter valued at $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $35,000. Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Lockheed Martin in the 4th quarter worth about $42,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LMT shares. Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price target for the company in a research report on Wednesday, April 23rd. Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Royal Bank Of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $458.23 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The company has a 50 day moving average price of $470.90 and a 200-day moving average price of $467.16. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95. The firm has a market capitalization of $107.36 billion, a PE ratio of 19.79, a P/E/G ratio of 1.60 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. As a group, equities research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin’s dividend payout ratio is 57.02%.

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.