Clarus Wealth Advisors Sells 122 Shares of Lockheed Martin Co. (NYSE:LMT)

Clarus Wealth Advisors lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,304 shares of the aerospace company’s stock after selling 122 shares during the period. Clarus Wealth Advisors’ holdings in Lockheed Martin were worth $1,395,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $233,000. High Note Wealth LLC lifted its position in Lockheed Martin by 2.5% in the third quarter. High Note Wealth LLC now owns 4,760 shares of the aerospace company’s stock worth $2,783,000 after purchasing an additional 117 shares during the period. Patten Group Inc. boosted its stake in Lockheed Martin by 5.1% during the third quarter. Patten Group Inc. now owns 2,593 shares of the aerospace company’s stock worth $1,516,000 after buying an additional 126 shares in the last quarter. Wedmont Private Capital increased its holdings in Lockheed Martin by 10.5% in the 3rd quarter. Wedmont Private Capital now owns 2,893 shares of the aerospace company’s stock valued at $1,752,000 after buying an additional 274 shares during the period. Finally, Marcum Wealth LLC raised its stake in shares of Lockheed Martin by 2.3% in the 3rd quarter. Marcum Wealth LLC now owns 1,848 shares of the aerospace company’s stock valued at $1,080,000 after buying an additional 41 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $568.31.

Lockheed Martin Price Performance

Shares of LMT stock opened at $605.12 on Thursday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $611.59. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm’s 50 day moving average is $569.95 and its 200-day moving average is $503.06. The firm has a market capitalization of $145.19 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for 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 business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.73 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 48.30%.

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.