Rice Partnership LLC Has $946,000 Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Rice Partnership LLC cut its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 27.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,117 shares of the aerospace company's stock after selling 803 shares during the period. Rice Partnership LLC's holdings in Lockheed Martin were worth $946,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter worth about $35,000. Redwood Park Advisors LLC bought a new position in Lockheed Martin during the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Lockheed Martin during the fourth quarter worth about $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 1.3%

LMT stock traded down $5.90 during mid-day trading on Tuesday, reaching $463.16. The company had a trading volume of 1,242,229 shares, compared to its average volume of 1,360,336. The company has a market capitalization of $108.52 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.64 and a beta of 0.28. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95. The stock has a 50 day simple moving average of $470.45 and a two-hundred day simple moving average of $465.33. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion during 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%. As a group, equities analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared 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. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LMT. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a report on Wednesday, April 16th. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and an average price target 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.