LaFleur & Godfrey LLC Sells 693 Shares of Lockheed Martin Corporation (NYSE:LMT)

LaFleur & Godfrey LLC reduced its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 59.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 463 shares of the aerospace company's stock after selling 693 shares during the quarter. LaFleur & Godfrey LLC's holdings in Lockheed Martin were worth $207,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LMT. BridgePort Financial Solutions LLC lifted its stake in Lockheed Martin by 8.3% in the first quarter. BridgePort Financial Solutions LLC now owns 786 shares of the aerospace company's stock valued at $351,000 after buying an additional 60 shares during the last quarter. Ledyard National Bank lifted its position in Lockheed Martin by 3.8% in the 1st quarter. Ledyard National Bank now owns 5,955 shares of the aerospace company's stock valued at $2,660,000 after purchasing an additional 219 shares during the last quarter. YHB Investment Advisors Inc. boosted its stake in Lockheed Martin by 33.9% during the 1st quarter. YHB Investment Advisors Inc. now owns 707 shares of the aerospace company's stock valued at $316,000 after purchasing an additional 179 shares during the period. Keudell Morrison Wealth Management grew its position in Lockheed Martin by 2.6% in the 1st quarter. Keudell Morrison Wealth Management now owns 1,713 shares of the aerospace company's stock worth $765,000 after purchasing an additional 43 shares during the last quarter. Finally, Integris Wealth Management LLC increased its stake in shares of Lockheed Martin by 2.7% in the first quarter. Integris Wealth Management LLC now owns 1,659 shares of the aerospace company's stock valued at $741,000 after purchasing an additional 44 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent analyst reports. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Wall Street Zen lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Royal Bank Of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Wells Fargo & Company lowered their target price 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. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Trading Down 2.5%

NYSE LMT traded down $11.83 on Tuesday, hitting $460.63. 1,967,244 shares of the stock were exchanged, compared to its average volume of 1,346,453. The company's 50-day moving average price is $471.56 and its two-hundred day moving average price is $467.62. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a market capitalization of $107.93 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.64 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. Research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio (DPR) is currently 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.