Garner Asset Management Corp Lowers Stake in Lockheed Martin Corporation (NYSE:LMT)

Garner Asset Management Corp lessened its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,573 shares of the aerospace company's stock after selling 764 shares during the period. Garner Asset Management Corp's holdings in Lockheed Martin were worth $1,149,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in shares of Lockheed Martin during the 1st quarter worth approximately $31,000. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Finally, Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $3.20 during trading hours on Friday, reaching $423.75. The stock had a trading volume of 1,027,240 shares, compared to its average volume of 1,659,698. The stock's 50 day moving average is $466.72 and its 200 day moving average is $463.00. The firm has a market capitalization of $99.28 billion, a PE ratio of 23.86, a PEG ratio of 1.83 and a beta of 0.28. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the prior year, the firm earned $7.11 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.12%. Lockheed Martin's dividend payout ratio is presently 74.32%.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on 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. Susquehanna lowered their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Hold" and an average target price of $506.65.

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.