Leavell Investment Management Inc. Sells 2,001 Shares of Lockheed Martin Corporation (NYSE:LMT)

Leavell Investment Management Inc. trimmed its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 9.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,347 shares of the aerospace company's stock after selling 2,001 shares during the quarter. Leavell Investment Management Inc.'s holdings in Lockheed Martin were worth $9,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. First American Bank raised its position in Lockheed Martin by 18.8% during the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock valued at $3,749,000 after acquiring an additional 1,327 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $33,294,000. Cantor Fitzgerald Investment Advisors L.P. grew its stake in shares of Lockheed Martin by 18.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after acquiring an additional 2,686 shares during the last quarter. State of Wyoming boosted its stake in Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after buying an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Lockheed Martin by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock worth $49,893,000 after buying an additional 3,809 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company cut their price objective 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. Jefferies Financial Group cut their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. UBS Group boosted their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Wall Street Zen cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Finally, Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research note on Wednesday, April 16th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $531.47.

Lockheed Martin Price Performance

Shares of LMT traded up $2.78 during trading hours on Friday, hitting $467.09. 675,228 shares of the company were exchanged, compared to its average volume of 1,361,508. The company has a market cap of $109.44 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.61 and a beta of 0.28. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The firm's fifty day moving average is $469.64 and its 200 day moving average is $465.15.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion for 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%. On average, equities analysts anticipate 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 paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

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.