Lockheed Martin Corporation (NYSE:LMT) Stock Position Lowered by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 30.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,823 shares of the aerospace company's stock after selling 7,068 shares during the period. Lockheed Martin comprises approximately 0.5% of Y Intercept Hong Kong Ltd's holdings, making the stock its 24th biggest holding. Y Intercept Hong Kong Ltd's holdings in Lockheed Martin were worth $7,068,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Hartford Funds Management Co LLC boosted its position in Lockheed Martin by 4.6% during the first quarter. Hartford Funds Management Co LLC now owns 2,389 shares of the aerospace company's stock worth $1,067,000 after acquiring an additional 106 shares during the last quarter. PFG Advisors boosted its holdings in shares of Lockheed Martin by 46.0% in the 1st quarter. PFG Advisors now owns 4,529 shares of the aerospace company's stock valued at $2,023,000 after purchasing an additional 1,426 shares during the last quarter. Ignite Planners LLC boosted its holdings in shares of Lockheed Martin by 15.0% in the 1st quarter. Ignite Planners LLC now owns 797 shares of the aerospace company's stock valued at $381,000 after purchasing an additional 104 shares during the last quarter. Clifford Swan Investment Counsel LLC boosted its holdings in shares of Lockheed Martin by 0.3% in the 1st quarter. Clifford Swan Investment Counsel LLC now owns 12,524 shares of the aerospace company's stock valued at $5,595,000 after purchasing an additional 37 shares during the last quarter. Finally, Winch Advisory Services LLC boosted its holdings in shares of Lockheed Martin by 119.7% in the 1st quarter. Winch Advisory Services LLC now owns 1,360 shares of the aerospace company's stock valued at $607,000 after purchasing an additional 741 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded up $1.38 during trading on Thursday, reaching $420.77. The company had a trading volume of 2,354,864 shares, compared to its average volume of 1,658,154. The firm's fifty day moving average is $467.58 and its 200 day moving average is $463.32. The firm has a market capitalization of $98.59 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.79 and a beta of 0.28. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.91 and a current ratio of 0.98.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the business earned $7.11 earnings per share. The business's quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is presently 57.02%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of research reports. Jefferies Financial Group cut their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their target price for the company from $554.00 to $440.00 in a report on Wednesday. Robert W. Baird dropped their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of "Hold" and an average target price of $506.65.

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.