Mount Yale Investment Advisors LLC Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Mount Yale Investment Advisors LLC lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 30.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,142 shares of the aerospace company’s stock after selling 494 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Lockheed Martin were worth $533,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Frank Rimerman Advisors LLC lifted its position in shares of Lockheed Martin by 52,325.0% in the second quarter. Frank Rimerman Advisors LLC now owns 2,097 shares of the aerospace company’s stock valued at $980,000 after acquiring an additional 2,093 shares in the last quarter. Holderness Investments Co. raised its stake in Lockheed Martin by 10.4% in the 2nd quarter. Holderness Investments Co. now owns 3,972 shares of the aerospace company’s stock valued at $1,855,000 after purchasing an additional 375 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Lockheed Martin by 6.0% in the 2nd quarter. ProShare Advisors LLC now owns 33,727 shares of the aerospace company’s stock valued at $15,754,000 after purchasing an additional 1,921 shares in the last quarter. Merriman Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter worth about $223,000. Finally, Alaethes Wealth LLC grew its holdings in shares of Lockheed Martin by 2.5% during the second quarter. Alaethes Wealth LLC now owns 3,387 shares of the aerospace company’s stock worth $1,582,000 after buying an additional 82 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Susquehanna raised their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred 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 sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $580.59 on Tuesday. The firm has a fifty day moving average of $547.94 and a 200-day moving average of $490.19. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $581.75. 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 firm has a market capitalization of $139.31 billion, a P/E ratio of 21.24, a PEG ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results 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. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.73 EPS. As a group, analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.17%. Lockheed Martin’s payout ratio is currently 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.