FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 68 Shares of Lockheed Martin Co. (NYSE:LMT)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.8% in the first quarter, Holdings Channel reports. The fund owned 3,684 shares of the aerospace company’s stock after selling 68 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Lockheed Martin were worth $1,676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Lockheed Martin by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after buying an additional 279,162 shares in the last quarter. Wellington Management Group LLP increased its position in Lockheed Martin by 4.0% in the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after purchasing an additional 121,358 shares during the period. Franklin Resources Inc. increased its position in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after purchasing an additional 336,588 shares during the period. International Assets Investment Management LLC increased its position in Lockheed Martin by 10,526.6% in 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 during the period. Finally, Dimensional Fund Advisors LP increased its position in Lockheed Martin by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock worth $470,536,000 after purchasing an additional 27,349 shares during the period. 74.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Citigroup lifted their price objective on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Finally, UBS Group boosted their target price on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Stock Down 0.3 %

Shares of NYSE:LMT traded down $1.59 during trading on Tuesday, hitting $464.85. 88,529 shares of the company’s stock traded hands, compared to its average volume of 1,086,620. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $479.50. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The company has a market cap of $111.54 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46. The company has a 50-day moving average price of $464.84 and a 200-day moving average price of $450.33.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. During the same quarter in the previous year, the business posted $6.43 EPS. Lockheed Martin’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

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.