Lockheed Martin Corporation (NYSE:LMT) Stake Lessened by First Merchants Corp

First Merchants Corp lessened its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 79.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,367 shares of the aerospace company's stock after selling 12,845 shares during the period. First Merchants Corp's holdings in Lockheed Martin were worth $1,504,000 at the end of the most recent reporting period.

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

Lockheed Martin Stock Performance

LMT stock opened at $458.59 on Friday. The company has a market capitalization of $107.45 billion, a P/E ratio of 19.81, a PEG ratio of 1.60 and a beta of 0.29. The company has a 50-day simple moving average of $470.80 and a 200 day simple moving average of $466.78. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79.

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

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 57.02%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LMT shares. UBS Group boosted their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a research note on Wednesday, April 23rd. Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a research note on Wednesday, April 16th. 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. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and an average price target 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.

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