Lockheed Martin Co. (NYSE:LMT) Position Trimmed by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 10.7% in the first quarter, according to the company in 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 quarter.

A number of other institutional investors have also bought and sold shares of the business. LaFleur & Godfrey LLC boosted its stake in shares of Lockheed Martin by 18.0% in the 4th quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock valued at $562,000 after buying an additional 176 shares during the period. Eagle Capital Management LLC lifted its stake in Lockheed Martin by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after acquiring an additional 32 shares during the last quarter. Brighton Jones LLC grew its holdings in Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after acquiring an additional 191 shares in the last quarter. Hudson Portfolio Management LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $256,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $147,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. 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 research note on Wednesday, April 23rd. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating 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 company from $685.00 to $485.00 in a report on Monday, March 24th. Finally, Morgan Stanley raised 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded down $20.76 during trading hours on Monday, reaching $465.69. The company's stock had a trading volume of 2,100,074 shares, compared to its average volume of 1,328,209. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95. The company's 50 day simple moving average is $470.72 and its 200 day simple moving average is $469.65. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market cap of $109.11 billion, a P/E ratio of 20.96, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion for 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, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. Lockheed Martin's dividend payout ratio is presently 57.02%.

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.