Lockheed Martin Corporation (NYSE:LMT) Stock Holdings Lowered by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in Lockheed Martin Corporation by 6.3%, selling 822 shares, and now owns 12,154 shares valued at approximately $5.43 million.
• Lockheed Martin reported quarterly earnings of $7.29 EPS, exceeding analyst expectations, but revenue of $18.16 billion fell short of the estimated $18.59 billion.
• The company declared a quarterly dividend of $3.30 per share, with a dividend yield of 3.13%, and a payout ratio of 74.32%.

Nikko Asset Management Americas Inc. lessened its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,154 shares of the aerospace company's stock after selling 822 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Lockheed Martin were worth $5,429,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in Lockheed Martin in the 1st quarter valued at about $31,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $40,000. Banque Transatlantique SA acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $43,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LMT. Wells Fargo & Company decreased their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Royal Bank Of Canada dropped their target price on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Vertical Research reissued a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Fifteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $506.65.

Lockheed Martin Trading Down 0.2%

LMT traded down $0.70 during trading on Tuesday, hitting $420.64. 983,266 shares of the company's stock were exchanged, compared to its average volume of 1,670,397. The firm has a market cap of $98.20 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 1.48 and a beta of 0.28. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The stock has a 50 day moving average price of $464.77 and a 200 day moving average price of $462.30. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The company had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm's revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $7.11 earnings per share. As a group, analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.14%. Lockheed Martin's dividend payout ratio is currently 74.32%.

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.