Apollon Wealth Management LLC lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,235 shares of the aerospace company's stock after selling 761 shares during the quarter. Apollon Wealth Management LLC's holdings in Lockheed Martin were worth $5,019,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in LMT. GAMMA Investing LLC lifted its position in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Lockheed Martin during the 4th quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC acquired a new position in Lockheed Martin during the 4th quarter valued at about $451,985,000. Capital Research Global Investors acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $229,987,000. Finally, Demars Financial Group LLC raised its position in shares of Lockheed Martin by 47,002.5% in the 4th quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company's stock valued at $210,579,000 after acquiring an additional 432,423 shares during the period. Institutional investors own 74.19% of the company's stock.
Analysts Set New Price Targets
LMT has been the topic of a number of analyst reports. TD Cowen reiterated a "hold" rating and issued a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Truist Financial set a $554.00 target price on shares of Lockheed Martin and gave the stock a "buy" rating in a report on Friday, July 11th. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, Royal Bank Of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $532.69.
Check Out Our Latest Stock Analysis on LMT
Lockheed Martin Stock Down 1.4%
Shares of LMT traded down $6.51 during mid-day trading on Friday, hitting $462.70. 784,542 shares of the company's stock were exchanged, compared to its average volume of 1,366,927. The company has a market cap of $108.41 billion, a PE ratio of 19.99, a P/E/G ratio of 1.65 and a beta of 0.28. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95. The company has a 50-day simple moving average of $469.56 and a 200 day simple moving average of $464.56. 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 released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The business had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. On average, research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.
Lockheed Martin Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is 57.02%.
About Lockheed Martin
(
Free Report)
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.
See Also

Before you consider Lockheed Martin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lockheed Martin wasn't on the list.
While Lockheed Martin currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.