Daymark Wealth Partners LLC Sells 13,175 Shares of Lockheed Martin Corporation (NYSE:LMT)

Daymark Wealth Partners LLC trimmed its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 59.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,882 shares of the aerospace company's stock after selling 13,175 shares during the quarter. Daymark Wealth Partners LLC's holdings in Lockheed Martin were worth $3,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. LaFleur & Godfrey LLC increased its position in shares of Lockheed Martin by 18.0% during the fourth quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock worth $562,000 after buying an additional 176 shares during the period. Eagle Capital Management LLC boosted its position in Lockheed Martin by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after acquiring an additional 32 shares during the last quarter. Brighton Jones LLC boosted its position in Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after acquiring an additional 191 shares during the last quarter. Hudson Portfolio Management LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $256,000. Finally, World Equity Group Inc. bought a new position in shares of Lockheed Martin in the 4th quarter worth about $283,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.0%

LMT traded down $0.16 during midday trading on Thursday, reaching $458.23. 1,589,017 shares of the company were exchanged, compared to its average volume of 1,352,553. The company has a market cap of $107.36 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.60 and a beta of 0.29. Lockheed Martin Corporation has a one year low of $418.88 and a one year high of $618.95. The company's fifty day moving average price is $471.01 and its 200 day moving average price is $467.51. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08.

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 the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The business had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. As a group, analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 57.02%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price target for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Royal Bank Of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Wall Street Zen cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Company 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.