Morse Asset Management Inc trimmed its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 74.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 630 shares of the aerospace company's stock after selling 1,828 shares during the period. Morse Asset Management Inc's holdings in Lockheed Martin were worth $281,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new position in Lockheed Martin during the 1st quarter valued at about $31,000. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $35,000. Finally, Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 74.19% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. Jefferies Financial Group lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. UBS Group lifted 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. Finally, JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $509.35.
Get Our Latest Report on Lockheed Martin
Lockheed Martin Stock Performance
Lockheed Martin stock traded up $11.22 on Wednesday, reaching $421.96. 2,569,328 shares of the stock were exchanged, compared to its average volume of 1,412,795. The firm has a fifty day moving average price of $469.37 and a two-hundred day moving average price of $464.14. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. 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 market cap of $98.87 billion, a PE ratio of 18.20, a PEG ratio of 1.61 and a beta of 0.28.
Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. Sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.
Lockheed Martin Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is presently 57.02%.
Lockheed Martin Company Profile
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Free Report)
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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