Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC reduced its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 98.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,433 shares of the aerospace company's stock after selling 103,657 shares during the quarter. Stonegate Investment Group LLC's holdings in Lockheed Martin were worth $640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Aquatic Capital Management LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at $33,294,000. State of Wyoming raised its holdings in Lockheed Martin by 93.9% during the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock valued at $541,000 after buying an additional 539 shares during the period. Cantor Fitzgerald Investment Advisors L.P. raised its holdings in Lockheed Martin by 18.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock valued at $7,652,000 after buying an additional 2,686 shares during the period. Treasurer of the State of North Carolina raised its holdings in Lockheed Martin by 3.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock valued at $49,893,000 after buying an additional 3,809 shares during the period. Finally, American National Bank & Trust raised its holdings in Lockheed Martin by 2.3% during the 1st quarter. American National Bank & Trust now owns 38,842 shares of the aerospace company's stock valued at $17,351,000 after buying an additional 866 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Up 0.3%

LMT stock traded up $1.61 during trading on Friday, reaching $470.21. 2,416,865 shares of the company traded hands, compared to its average volume of 1,338,657. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95. The business has a 50 day simple moving average of $471.63 and a 200 day simple moving average of $467.91. The company has a market capitalization of $110.17 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data 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. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. On average, equities research analysts anticipate 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, June 27th. Shareholders of record on Monday, June 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.81%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio is presently 57.02%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company decreased 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. Royal Bank Of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price target for the company 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 target price on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group reduced their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Finally, Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of "Moderate Buy" and an average target price of $541.80.

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.