Lumbard & Kellner LLC Reduces Holdings in Lockheed Martin Corporation (NYSE:LMT)

Lumbard & Kellner LLC lowered its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,227 shares of the aerospace company's stock after selling 5,625 shares during the quarter. Lumbard & Kellner LLC's holdings in Lockheed Martin were worth $2,335,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LMT. GAMMA Investing LLC increased its stake in shares of Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Lockheed Martin by 53,784.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock worth $600,412,000 after buying an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock valued at $3,630,492,000 after buying an additional 1,132,461 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter valued at $526,587,000. Finally, Leigh Baldwin & CO. LLC bought a new stake in Lockheed Martin during the 4th quarter valued at $451,985,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 2.3%

Shares of Lockheed Martin stock opened at $468.27 on Thursday. 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 1 year low of $418.88 and a 1 year high of $618.95. The firm has a market cap of $109.72 billion, a PE ratio of 20.23, a PEG ratio of 1.67 and a beta of 0.29. The company has a 50 day simple moving average of $471.66 and a two-hundred day simple moving average of $469.27.

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, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.82%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio (DPR) is currently 57.02%.

Analyst Ratings Changes

A number of equities analysts have recently commented on LMT shares. Royal Bank Of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. 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 report on Wednesday, April 16th. Finally, Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Nine 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

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.

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