Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC cut its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 64.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,000 shares of the aerospace company's stock after selling 99,000 shares during the period. Lockheed Martin comprises approximately 1.6% of Pacific Heights Asset Management LLC's holdings, making the stock its 10th largest position. Pacific Heights Asset Management LLC's holdings in Lockheed Martin were worth $24,122,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LMT. Millstone Evans Group LLC bought a new stake in Lockheed Martin during the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin during the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter valued at $35,000. Redwood Park Advisors LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Analysts Set New Price Targets

LMT has been the subject of a number of recent research reports. Melius downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. UBS Group upped their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Finally, Melius Research cut shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Nine 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 company. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Stock Performance

NYSE:LMT opened at $463.31 on Friday. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The firm has a market cap of $108.55 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.61 and a beta of 0.28. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The business's fifty day moving average is $470.89 and its 200 day moving average is $465.87.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. Research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 57.02%.

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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