Capstone Wealth Management Group LLC Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Capstone Wealth Management Group LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 27.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,470 shares of the aerospace company’s stock after selling 548 shares during the quarter. Capstone Wealth Management Group LLC’s holdings in Lockheed Martin were worth $687,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Old West Investment Management LLC raised its holdings in shares of Lockheed Martin by 4.1% in the second quarter. Old West Investment Management LLC now owns 24,990 shares of the aerospace company’s stock worth $11,673,000 after buying an additional 986 shares during the last quarter. Edgestream Partners L.P. increased its position in shares of Lockheed Martin by 63.6% in the 2nd quarter. Edgestream Partners L.P. now owns 3,170 shares of the aerospace company’s stock valued at $1,481,000 after acquiring an additional 1,232 shares during the period. Moors & Cabot Inc. raised its stake in Lockheed Martin by 0.6% in the 2nd quarter. Moors & Cabot Inc. now owns 19,793 shares of the aerospace company’s stock worth $9,245,000 after acquiring an additional 109 shares during the last quarter. Excalibur Management Corp lifted its position in Lockheed Martin by 8.3% during the 2nd quarter. Excalibur Management Corp now owns 2,991 shares of the aerospace company’s stock worth $1,397,000 after acquiring an additional 230 shares during the period. Finally, WealthPLAN Partners LLC grew its stake in Lockheed Martin by 6.4% during the 2nd quarter. WealthPLAN Partners LLC now owns 11,114 shares of the aerospace company’s stock valued at $5,191,000 after purchasing an additional 666 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LMT. UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Susquehanna upped their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Barclays increased their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley increased their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $572.92 on Tuesday. The firm has a market cap of $136.56 billion, a PE ratio of 20.96, a P/E/G ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73. 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 business has a 50-day moving average price of $537.11 and a 200 day moving average price of $485.28.

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

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Lockheed Martin 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.