Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Close Asset Management Ltd

Close Asset Management Ltd lowered its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 33.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,912 shares of the aerospace company's stock after selling 6,627 shares during the quarter. Close Asset Management Ltd's holdings in Lockheed Martin were worth $5,766,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LMT. SYM FINANCIAL Corp increased its position in Lockheed Martin by 9.4% in the first quarter. SYM FINANCIAL Corp now owns 475 shares of the aerospace company's stock worth $212,000 after purchasing an additional 41 shares during the period. Oak Thistle LLC raised its stake in Lockheed Martin by 516.2% in the 1st quarter. Oak Thistle LLC now owns 14,061 shares of the aerospace company's stock worth $6,281,000 after purchasing an additional 11,779 shares in the last quarter. Old Port Advisors grew its position in Lockheed Martin by 30.7% in the first quarter. Old Port Advisors now owns 997 shares of the aerospace company's stock valued at $445,000 after acquiring an additional 234 shares during the last quarter. Hartford Funds Management Co LLC raised its position in Lockheed Martin by 4.6% in the first quarter. Hartford Funds Management Co LLC now owns 2,389 shares of the aerospace company's stock valued at $1,067,000 after purchasing an additional 106 shares during the last quarter. Finally, PFG Advisors raised its position in shares of Lockheed Martin by 46.0% in the 1st quarter. PFG Advisors now owns 4,529 shares of the aerospace company's stock worth $2,023,000 after acquiring an additional 1,426 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 10.9%

Shares of NYSE LMT opened at $410.56 on Wednesday. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The stock has a 50-day moving average price of $469.37 and a two-hundred day moving average price of $464.14. The company has a market cap of $96.19 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.61 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. As a group, analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 3.22%. Lockheed Martin's dividend payout ratio is presently 57.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LMT. Vertical Research restated a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday. TD Cowen reissued a "hold" rating and issued a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a report on Wednesday, April 23rd. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Truist Financial set a $554.00 price target on Lockheed Martin and gave the stock a "buy" rating in a research report on Friday, July 11th. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $528.41.

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.

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