First National Trust Co Sells 1,168 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• First National Trust Co reduced its holdings in Lockheed Martin by 14.6%, owning 6,848 shares worth approximately $3.06 million after selling 1,168 shares this quarter.
• Shares of Lockheed Martin currently trade at $418.79, with a one-year high of $618.95 and a market capitalization of $97.77 billion.
• The company announced a quarterly dividend of $3.30 per share, reflecting an annualized dividend yield of 3.15%.

First National Trust Co trimmed its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 14.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,848 shares of the aerospace company's stock after selling 1,168 shares during the period. First National Trust Co's holdings in Lockheed Martin were worth $3,059,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Eastern Bank lifted its stake in shares of Lockheed Martin by 4.3% in the 1st quarter. Eastern Bank now owns 1,379 shares of the aerospace company's stock valued at $616,000 after acquiring an additional 57 shares during the last quarter. Vestcor Inc raised its position in Lockheed Martin by 11.2% during the 1st quarter. Vestcor Inc now owns 17,036 shares of the aerospace company's stock worth $7,610,000 after purchasing an additional 1,720 shares during the last quarter. Walled Lake Planning & Wealth Management LLC raised its position in Lockheed Martin by 0.5% during the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 15,927 shares of the aerospace company's stock worth $7,115,000 after purchasing an additional 78 shares during the last quarter. Federated Hermes Inc. raised its position in Lockheed Martin by 252.8% during the 1st quarter. Federated Hermes Inc. now owns 36,080 shares of the aerospace company's stock worth $16,117,000 after purchasing an additional 25,853 shares during the last quarter. Finally, Canopy Partners LLC raised its position in Lockheed Martin by 2.2% during the 1st quarter. Canopy Partners LLC now owns 1,593 shares of the aerospace company's stock worth $712,000 after purchasing an additional 35 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on LMT shares. Royal Bank Of Canada lowered their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company decreased their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Fifteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Stock Down 0.0%

Shares of LMT traded down $0.01 during trading hours on Friday, hitting $420.97. The stock had a trading volume of 1,871,270 shares, compared to its average volume of 2,165,796. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $460.68 and a 200-day simple moving average of $460.50. The firm has a market capitalization of $98.28 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.27. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95.

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 (EPS) for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.11 EPS. Sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared 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 3.1%. Lockheed Martin's payout ratio is 74.32%.

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.