Chevy Chase Trust Holdings LLC Sells 928 Shares of Lockheed Martin Corporation (NYSE:LMT)

Chevy Chase Trust Holdings LLC decreased its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,369 shares of the aerospace company’s stock after selling 928 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Lockheed Martin were worth $81,466,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after acquiring an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after purchasing an additional 59,597 shares during the last quarter. Northern Trust Corp boosted its holdings in Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after purchasing an additional 134,662 shares during the last quarter. Invesco Ltd. boosted its holdings in Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after purchasing an additional 318,007 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after purchasing an additional 1,986,600 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LMT shares. UBS Group increased their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target for the company in a research note on Wednesday, April 16th. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine investment 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 stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Price Performance

Shares of LMT opened at $472.16 on Tuesday. The firm has a market capitalization of $110.63 billion, a PE ratio of 20.40, a PEG ratio of 1.64 and a beta of 0.29. The company’s 50-day moving average is $471.56 and its 200-day moving average is $467.62. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion for 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%. Equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s payout ratio is presently 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.