Narwhal Capital Management Reduces Holdings in Lockheed Martin Corporation (NYSE:LMT)

Narwhal Capital Management reduced its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 13.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,528 shares of the aerospace company's stock after selling 4,742 shares during the period. Lockheed Martin accounts for 1.3% of Narwhal Capital Management's portfolio, making the stock its 20th largest position. Narwhal Capital Management's holdings in Lockheed Martin were worth $14,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock valued at $600,412,000 after buying an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 worth $3,630,492,000 after buying an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter worth about $526,587,000. Finally, Leigh Baldwin & CO. LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth about $451,985,000. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on LMT. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research note on Wednesday, April 16th. Royal Bank Of Canada downgraded 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 research note on Thursday, March 27th. Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. UBS Group boosted their target price on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Finally, Melius downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Stock Up 0.3%

LMT opened at $470.21 on Monday. The stock has a market capitalization of $110.17 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.64 and a beta of 0.29. The firm has a 50 day moving average price of $471.63 and a 200-day moving average price of $467.91. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month 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 announced its earnings results 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. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. Equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's dividend payout ratio is 57.02%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.