Lockheed Martin Corporation (NYSE:LMT) Stake Cut by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 53,751 shares of the aerospace company's stock after selling 4,546 shares during the period. Manning & Napier Advisors LLC's holdings in Lockheed Martin were worth $24,011,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Geode Capital Management LLC grew its holdings in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock worth $2,374,557,000 after buying an additional 59,597 shares in the last quarter. Northern Trust Corp increased its position in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after acquiring an additional 134,662 shares during the period. Invesco Ltd. increased its position in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after acquiring an additional 318,007 shares during the period. Finally, GAMMA Investing LLC raised its stake in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after acquiring an additional 1,986,600 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Trading Up 0.3%

Shares of Lockheed Martin stock traded up $1.61 on Friday, reaching $470.21. 2,416,865 shares of the company were exchanged, compared to its average volume of 1,338,657. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The firm has a market capitalization of $110.17 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29. 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 fifty day moving average price of $471.63 and a 200-day moving average price of $467.91.

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 (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. On average, analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LMT. Wall Street Zen cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Jefferies Financial Group reduced their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Royal Bank Of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $541.80.

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.