Lockheed Martin Co. (NYSE:LMT) Shares Sold by West Paces Advisors Inc.

West Paces Advisors Inc. cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,763 shares of the aerospace company’s stock after selling 109 shares during the period. West Paces Advisors Inc.’s holdings in Lockheed Martin were worth $802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LMT. International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after purchasing an additional 1,349,409 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Lockheed Martin in the 1st quarter valued at approximately $151,402,000. Vanguard Group Inc. boosted its stake in shares of Lockheed Martin by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after acquiring an additional 279,162 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.2 %

Shares of LMT stock traded down $1.08 on Wednesday, reaching $466.99. 924,943 shares of the stock were exchanged, compared to its average volume of 1,081,249. The firm has a 50 day moving average of $464.34 and a two-hundred day moving average of $450.00. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50. The stock has a market cap of $112.05 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 4.41 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. During the same period in the prior year, the company earned $6.43 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. On average, research analysts anticipate that Lockheed Martin Co. will post 26.17 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a $3.15 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. Citigroup upped their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $475.00 to $518.00 in a report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price target on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average price target of $485.40.

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.