Northwest Quadrant Wealth Management LLC Sells 1,341 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Northwest Quadrant Wealth Management LLC reduced its stake in Lockheed Martin by 52.2%, now holding 1,229 shares valued at $549,000, making it the firm’s 29th largest holding.
• Multiple institutional investors increased their positions in Lockheed Martin, with Altfest L J & Co. Inc. increasing its holdings by 86.0% in the first quarter.
• The company announced a quarterly dividend of $3.30, representing an annualized yield of 3.0%, and is set to be paid on September 26th.

Northwest Quadrant Wealth Management LLC lessened its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 52.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,229 shares of the aerospace company's stock after selling 1,341 shares during the quarter. Lockheed Martin comprises approximately 0.1% of Northwest Quadrant Wealth Management LLC's holdings, making the stock its 29th largest position. Northwest Quadrant Wealth Management LLC's holdings in Lockheed Martin were worth $549,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position 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 worth $889,593,000 after acquiring an additional 1,986,600 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth about $526,587,000. Leigh Baldwin & CO. LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $451,985,000. Charles Schwab Investment Management Inc. lifted its position in shares of Lockheed Martin by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock worth $3,587,444,000 after purchasing an additional 560,457 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in Lockheed Martin in the 4th quarter valued at approximately $229,987,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LMT. Wall Street Zen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a "market perform" rating in a research report on Monday, July 14th. Vertical Research reissued a "hold" rating and issued a $460.00 price target on shares of Lockheed Martin in a report on Tuesday, July 22nd. Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price target for the stock from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Finally, Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $506.65.

Lockheed Martin Price Performance

LMT stock traded down $5.07 during trading on Friday, hitting $425.68. The company had a trading volume of 1,477,499 shares, compared to its average volume of 2,270,781. The company has a fifty day moving average price of $456.14 and a two-hundred day moving average price of $458.67. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The company has a market cap of $99.38 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.51 and a beta of 0.27. 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 (NYSE:LMT - Get Free Report) last issued its quarterly earnings data 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. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period last year, the business earned $7.11 earnings per share. The business's revenue was up .2% on a year-over-year basis. Equities research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is presently 74.32%.

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.