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

Key Points

• LSV Asset Management reduced its stake in Lockheed Martin by 4.8%, owning 447,206 shares valued at approximately $199.77 million following the sale of 22,748 shares.
• Lockheed Martin recently reported earnings per share of $7.29 for the quarter, surpassing analysts' expectations, while revenue reached $18.16 billion.
• The company announced a quarterly dividend of $3.30 per share, with an annualized yield of 3.1%, set to be paid on September 26th.

LSV Asset Management trimmed its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 447,206 shares of the aerospace company's stock after selling 22,748 shares during the quarter. LSV Asset Management owned about 0.19% of Lockheed Martin worth $199,771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Endeavor Private Wealth Inc. boosted its holdings in Lockheed Martin by 266.9% in the 1st quarter. Endeavor Private Wealth Inc. now owns 488 shares of the aerospace company's stock valued at $218,000 after purchasing an additional 355 shares during the last quarter. IFG Advisory LLC boosted its holdings in Lockheed Martin by 10.6% in the 1st quarter. IFG Advisory LLC now owns 2,198 shares of the aerospace company's stock valued at $982,000 after purchasing an additional 210 shares during the last quarter. SPC Financial Inc. boosted its holdings in Lockheed Martin by 1.5% in the 1st quarter. SPC Financial Inc. now owns 2,307 shares of the aerospace company's stock valued at $1,031,000 after purchasing an additional 34 shares during the last quarter. TIAA Trust National Association boosted its holdings in Lockheed Martin by 4.0% in the 1st quarter. TIAA Trust National Association now owns 11,189 shares of the aerospace company's stock valued at $4,998,000 after purchasing an additional 432 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in Lockheed Martin by 8.8% in the 1st quarter. Baker Avenue Asset Management LP now owns 1,577 shares of the aerospace company's stock valued at $704,000 after purchasing an additional 127 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Fifteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $506.65.

Lockheed Martin Trading Down 0.0%

Shares of NYSE:LMT opened at $420.97 on Friday. The company has a market cap of $98.28 billion, a PE ratio of 23.70, a P/E/G ratio of 1.48 and a beta of 0.27. The company's 50 day moving average is $460.68 and its two-hundred day moving average is $460.84. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.11 EPS. Equities analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given 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 dividend payout ratio is presently 74.32%.

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.

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