Lockheed Martin Co. (NYSE:LMT) Shares Sold by Wedmont Private Capital

Wedmont Private Capital lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 9.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,712 shares of the aerospace company’s stock after selling 272 shares during the period. Wedmont Private Capital’s holdings in Lockheed Martin were worth $1,288,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at approximately $33,294,000. Private Advisor Group LLC increased its holdings in Lockheed Martin by 11.0% in the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after purchasing an additional 5,075 shares during the last quarter. State of Wyoming increased its holdings in Lockheed Martin by 93.9% in the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock valued at $541,000 after purchasing an additional 539 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its position in Lockheed Martin by 42.5% in the 4th quarter. Soltis Investment Advisors LLC now owns 13,935 shares of the aerospace company’s stock valued at $6,772,000 after buying an additional 4,159 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $481.49 on Monday. The company’s fifty day moving average price is $467.56 and its 200 day moving average price is $471.52. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market capitalization of $112.81 billion, a P/E ratio of 21.63, a P/E/G ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last announced its quarterly 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 net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.74%. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of 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. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Jefferies Financial Group decreased their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Monday, April 28th. Finally, Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $541.80.

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.