Franklin Street Advisors Inc. NC Sells 5,309 Shares of Lockheed Martin Co. (NYSE:LMT)

Franklin Street Advisors Inc. NC lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 73.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,923 shares of the aerospace company's stock after selling 5,309 shares during the quarter. Franklin Street Advisors Inc. NC's holdings in Lockheed Martin were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LMT. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin in the 4th quarter valued at $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at $35,000. Redwood Park Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin in the 4th quarter valued at $42,000. Institutional investors own 74.19% of the company's stock.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research analyst reports. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Wells Fargo & Company lowered 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. Jefferies Financial Group lowered their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target on the stock in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $16.48 during trading on Friday, hitting $485.75. 2,714,812 shares of the company's stock traded hands, compared to its average volume of 1,324,545. 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 firm's fifty day moving average price is $470.72 and its 200 day moving average price is $470.42. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a market cap of $113.81 billion, a PE ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29.

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, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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