Frank Rimerman Advisors LLC Grows Stock Position in Lockheed Martin Co. (NYSE:LMT)

Frank Rimerman Advisors LLC increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 52,325.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,097 shares of the aerospace company’s stock after buying an additional 2,093 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Lockheed Martin were worth $980,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Aveo Capital Partners LLC raised its position in Lockheed Martin by 4.1% in the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock valued at $300,000 after purchasing an additional 26 shares during the period. Gryphon Financial Partners LLC raised its position in 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. TrinityPoint Wealth LLC raised its position in Lockheed Martin by 9.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,948 shares of the aerospace company’s stock valued at $1,789,000 after purchasing an additional 344 shares during the period. HCR Wealth Advisors purchased a new stake in Lockheed Martin in the fourth quarter valued at approximately $233,000. Finally, Congress Wealth Management LLC DE raised its position in Lockheed Martin by 312.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 4,166 shares of the aerospace company’s stock valued at $1,888,000 after purchasing an additional 3,157 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin 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 completion of the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Stock Performance

NYSE LMT opened at $571.92 on Monday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73. The company has a market capitalization of $137.23 billion, a PE ratio of 20.93, a P/E/G ratio of 4.55 and a beta of 0.47. The company has a fifty day moving average of $545.61 and a two-hundred day moving average of $489.13.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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 paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.20%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Analysts Set New Price Targets

Several research firms have commented on LMT. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Susquehanna boosted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $553.43.

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.