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

Rice Partnership LLC cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 27.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,117 shares of the aerospace company's stock after selling 803 shares during the quarter. Rice Partnership LLC's holdings in Lockheed Martin were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on LMT. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Royal Bank Of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target for the company in a research note on Wednesday, April 23rd. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Melius downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Trading Up 1.2%

NYSE LMT traded up $5.39 on Monday, hitting $467.91. 551,801 shares of the stock were exchanged, compared to its average volume of 1,354,543. The company's 50-day moving average price is $470.60 and its two-hundred day moving average price is $465.47. 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 Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a market capitalization of $109.63 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.61 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly 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 the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. Research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Lockheed Martin 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.