Lockheed Martin Corporation (NYSE:LMT) Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,420 shares of the aerospace company's stock after selling 10,852 shares during the period. Allspring Global Investments Holdings LLC's holdings in Lockheed Martin were worth $49,539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in Lockheed Martin in the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the 4th quarter valued at approximately $35,000. Redwood Park Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded up $4.84 during midday trading on Monday, hitting $463.43. 1,202,502 shares of the company's stock were exchanged, compared to its average volume of 1,347,975. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month high of $618.95. The firm has a market cap of $108.58 billion, a P/E ratio of 20.02, a PEG ratio of 1.60 and a beta of 0.29. The stock's 50 day moving average price is $470.80 and its 200-day moving average price is $466.31. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. Equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.85%. Lockheed Martin's payout ratio is 57.02%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LMT shares. Jefferies Financial Group cut their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and cut their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. UBS Group boosted their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research note on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin 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.