Robbins Farley Decreases Stake in Lockheed Martin Co. (NYSE:LMT)

Robbins Farley reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,999 shares of the aerospace company’s stock after selling 26 shares during the period. Robbins Farley’s holdings in Lockheed Martin were worth $2,233,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin during the 4th quarter worth $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth $35,000. Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Lockheed Martin during the 4th quarter worth $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 3.5%

Shares of LMT stock opened at $485.75 on Friday. The firm has a 50-day moving average price of $470.72 and a 200 day moving average price of $470.42. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a market capitalization of $113.81 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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 paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Analyst Ratings Changes

Several equities research analysts have commented on LMT shares. UBS Group boosted their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Wells Fargo & Company cut their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Finally, Baird R W raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $541.80.

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.