Latitude Advisors LLC Has $374,000 Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Latitude Advisors LLC reduced its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 17.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 838 shares of the aerospace company’s stock after selling 177 shares during the quarter. Latitude Advisors LLC’s holdings in Lockheed Martin were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LMT. Geode Capital Management LLC grew its stake in shares of Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after acquiring an additional 59,597 shares in 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. grew its position in Lockheed Martin by 17.5% in the 4th 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 in the last quarter. GAMMA Investing LLC grew its position in Lockheed Martin by 41,104.9% in the 1st 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Lockheed Martin by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company’s stock valued at $619,369,000 after buying an additional 70,516 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LMT. Royal Bank Of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Wells Fargo & Company decreased their target price on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Finally, Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $462.82 on Thursday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The stock has a market cap of $108.44 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.28. The stock has a fifty day moving average of $470.96 and a 200-day moving average of $466.07.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The business had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.85%. Lockheed Martin’s dividend payout ratio (DPR) is currently 57.02%.

About Lockheed Martin

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.