Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,710,532 shares of the aerospace company's stock after selling 33,225 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Lockheed Martin worth $764,112,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LMT. First American Bank grew its holdings in shares of Lockheed Martin by 18.8% during the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after acquiring an additional 1,327 shares during the period. Aquatic Capital Management LLC bought a new position in Lockheed Martin in the 4th quarter valued at approximately $33,294,000. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of 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. State of Wyoming lifted its holdings in shares of 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. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of 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. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on LMT. Royal Bank Of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group raised their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Stock Performance

LMT traded up $0.65 on Wednesday, reaching $463.66. The stock had a trading volume of 665,185 shares, compared to its average volume of 1,595,559. Lockheed Martin Corporation has a 12-month low of $418.88 and a 12-month high of $618.95. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The business's 50-day moving average price is $470.20 and its two-hundred day moving average price is $465.31. The company has a market cap of $108.64 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.64 and a beta of 0.28.

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

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. Lockheed Martin's dividend payout ratio is currently 57.02%.

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.