Lumbard & Kellner LLC Decreases Holdings in Lockheed Martin Corporation (NYSE:LMT)

Lumbard & Kellner LLC decreased its holdings in Lockheed Martin Corporation (NYSE:LMT) by 51.8% in the first quarter, Holdings Channel.com reports. The firm owned 5,227 shares of the aerospace company’s stock after selling 5,625 shares during the period. Lumbard & Kellner LLC’s holdings in Lockheed Martin were worth $2,335,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LMT. Aquatic Capital Management LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $33,294,000. Private Advisor Group LLC lifted its stake in shares of 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 acquiring an additional 5,075 shares during the last quarter. State of Wyoming boosted its holdings in Lockheed Martin by 93.9% during the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock valued at $541,000 after acquiring an additional 539 shares during the period. Treasurer of the State of North Carolina grew its position in Lockheed Martin by 3.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock worth $49,893,000 after acquiring an additional 3,809 shares during the last quarter. Finally, American National Bank & Trust increased its stake in Lockheed Martin by 2.3% in the 1st quarter. American National Bank & Trust now owns 38,842 shares of the aerospace company’s stock worth $17,351,000 after purchasing an additional 866 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 2.3%

NYSE:LMT opened at $468.27 on Thursday. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The firm’s 50-day moving average price is $471.66 and its 200-day moving average price is $469.27. The company has a market capitalization of $109.72 billion, a PE ratio of 20.23, a P/E/G ratio of 1.67 and a beta of 0.29. Lockheed Martin Corporation has a 1-year low of $418.88 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The business 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%. On average, equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.82%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Analyst Ratings Changes

Several brokerages have weighed in on LMT. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research 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 report on Wednesday, April 16th. Royal Bank Of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price target on the stock in a report on Wednesday, April 23rd. Finally, Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.