Bartlett & CO. Wealth Management LLC Reduces Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Bartlett & CO. Wealth Management LLC trimmed its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,048 shares of the aerospace company's stock after selling 585 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in Lockheed Martin were worth $6,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Old North State Wealth Management LLC raised its stake in shares of Lockheed Martin by 18.4% during the first quarter. Old North State Wealth Management LLC now owns 1,024 shares of the aerospace company's stock worth $461,000 after acquiring an additional 159 shares in the last quarter. Transcend Capital Advisors LLC boosted its position in Lockheed Martin by 5.6% during the first quarter. Transcend Capital Advisors LLC now owns 1,815 shares of the aerospace company's stock valued at $811,000 after buying an additional 96 shares during the period. Canal Insurance CO grew its stake in shares of Lockheed Martin by 15.8% during the first quarter. Canal Insurance CO now owns 36,600 shares of the aerospace company's stock valued at $16,350,000 after buying an additional 5,000 shares during the last quarter. Victrix Investment Advisors grew its stake in shares of Lockheed Martin by 7.5% during the first quarter. Victrix Investment Advisors now owns 8,545 shares of the aerospace company's stock valued at $3,717,000 after buying an additional 599 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. increased its holdings in shares of Lockheed Martin by 13.1% in the first quarter. Total Wealth Planning & Management Inc. now owns 1,678 shares of the aerospace company's stock worth $750,000 after buying an additional 195 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.0%

Shares of Lockheed Martin stock opened at $458.23 on Friday. The stock's 50 day simple moving average is $470.90 and its 200-day simple moving average is $467.16. The stock has a market cap of $107.36 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.60 and a beta of 0.29. 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 Corporation has a 1-year low of $418.88 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last released 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 return on equity of 104.09% and a net margin of 7.66%. The firm had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders 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 dividend yield of 2.88%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is 57.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective for the company in a report on Wednesday, April 23rd. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research 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 target on the stock in a research report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of "Moderate Buy" and an average target price 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.

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