Lockheed Martin Co. (NYSE:LMT) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,258 shares of the aerospace company's stock after selling 774 shares during the period. Parallel Advisors LLC's holdings in Lockheed Martin were worth $2,795,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin during the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at approximately $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Finally, Jefferies Financial Group cut their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Trading Down 0.3%

LMT traded down $1.25 on Monday, hitting $477.83. The company had a trading volume of 767,684 shares, compared to its average volume of 1,295,785. The company has a market cap of $111.95 billion, a PE ratio of 21.46, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The business's fifty day simple moving average is $464.02 and its 200 day simple moving average is $473.45.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The business had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's 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.