Fifth Third Bancorp Has $34.92 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Fifth Third Bancorp reduced its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,163 shares of the aerospace company's stock after selling 9,389 shares during the period. Fifth Third Bancorp's holdings in Lockheed Martin were worth $34,916,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Private Portfolio Partners LLC increased its stake in Lockheed Martin by 4.8% in the 4th 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. increased its stake in Lockheed Martin by 0.4% in the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after buying an additional 23 shares during the last quarter. Invenio Wealth Partners LLC increased its stake in Lockheed Martin by 6.2% in the 4th quarter. Invenio Wealth Partners LLC now owns 414 shares of the aerospace company's stock valued at $201,000 after buying an additional 24 shares during the last quarter. Pioneer Trust Bank N A OR grew its position in shares of Lockheed Martin by 1.3% in the 4th quarter. Pioneer Trust Bank N A OR now owns 1,944 shares of the aerospace company's stock valued at $945,000 after acquiring an additional 24 shares during the period. Finally, Dakota Community Bank & Trust NA grew its position in shares of Lockheed Martin by 3.9% in the 1st quarter. Dakota Community Bank & Trust NA now owns 637 shares of the aerospace company's stock valued at $285,000 after acquiring an additional 24 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LMT shares. Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective for the company in a research report on Wednesday, April 23rd. 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. Melius downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group decreased their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Nine investment 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Stock Performance

Lockheed Martin stock traded up $16.48 during midday trading on Friday, hitting $485.75. The company's stock had a trading volume of 2,714,812 shares, compared to its average volume of 1,324,545. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a 50-day moving average price of $470.72 and a two-hundred day moving average price of $470.04. The company has a market cap of $113.81 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate 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 7.51% and a return on equity of 101.47%. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's payout ratio is presently 57.02%.

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.