Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Everett Harris & Co. CA

Key Points

• Everett Harris & Co. CA has decreased its stake in Lockheed Martin by 2.6%, now owning 52,780 shares worth approximately $23.58 million.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding estimates, with a revenue of $18.16 billion.
• A quarterly dividend of $3.30 will be paid on September 26th, reflecting an annual yield of 3.1% and a payout ratio of 74.32%.

Everett Harris & Co. CA decreased its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,780 shares of the aerospace company's stock after selling 1,394 shares during the quarter. Everett Harris & Co. CA's holdings in Lockheed Martin were worth $23,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC raised its holdings in Lockheed Martin by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after buying an additional 32 shares in the last quarter. Brighton Jones LLC grew its position in Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after buying an additional 191 shares in the last quarter. Hudson Portfolio Management LLC bought a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $256,000. Azimuth Capital Investment Management LLC raised its stake in shares of Lockheed Martin by 3.7% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 10,759 shares of the aerospace company's stock valued at $5,228,000 after buying an additional 386 shares in the last quarter. Finally, CenterBook Partners LP lifted its stake in Lockheed Martin by 97.4% during the fourth quarter. CenterBook Partners LP now owns 3,217 shares of the aerospace company's stock worth $1,563,000 after purchasing an additional 1,587 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $431.11 on Friday. The company's 50 day moving average price is $457.25 and its two-hundred day moving average price is $459.23. The firm has a market capitalization of $100.65 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.52 and a beta of 0.27. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the business posted $7.11 EPS. Lockheed Martin's revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts forecast 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 issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research reports. Jefferies Financial Group lowered their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Sanford C. Bernstein set a $551.00 price target on Lockheed Martin and gave the company a "market perform" rating in a research note on Monday, July 14th. UBS Group decreased their price target on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Finally, TD Cowen reissued a "hold" rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and a consensus price target of $506.65.

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.

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