Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Coastline Trust Co

Coastline Trust Co reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 31.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,330 shares of the aerospace company's stock after selling 1,057 shares during the quarter. Coastline Trust Co's holdings in Lockheed Martin were worth $1,041,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LMT. Private Portfolio Partners LLC lifted its position in shares of Lockheed Martin by 4.8% during the fourth quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock valued at $244,000 after buying an additional 23 shares during the last quarter. Tealwood Asset Management Inc. raised its stake in shares of Lockheed Martin by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after acquiring an additional 23 shares in the last quarter. Southland Equity Partners LLC lifted its position in Lockheed Martin by 3.1% during the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after acquiring an additional 23 shares during the last quarter. Nvest Financial LLC lifted its position in Lockheed Martin by 0.6% during the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company's stock valued at $1,617,000 after acquiring an additional 23 shares during the last quarter. Finally, Reston Wealth Management LLC boosted its stake in Lockheed Martin by 4.5% in the first quarter. Reston Wealth Management LLC now owns 533 shares of the aerospace company's stock valued at $238,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $3.12 during trading on Wednesday, hitting $462.82. 1,127,121 shares of the stock traded hands, compared to its average volume of 1,349,818. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The company has a fifty day moving average price of $470.98 and a two-hundred day moving average price of $466.09. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a market cap of $108.44 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.61 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. As a group, equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current 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 given a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. Lockheed Martin's dividend payout ratio is currently 57.02%.

Analysts Set New Price Targets

Several research firms have recently commented on LMT. Royal Bank Of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a research note on Wednesday, April 16th. UBS Group boosted their price target on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Jefferies Financial Group decreased their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Nine equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $541.80.

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.