Principal Financial Group Inc. Sells 2,781 Shares of Lockheed Martin Corporation (NYSE:LMT)

Principal Financial Group Inc. lessened its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,684 shares of the aerospace company's stock after selling 2,781 shares during the period. Principal Financial Group Inc. owned 0.11% of Lockheed Martin worth $118,684,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

LMT has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Finally, Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Price Performance

LMT stock opened at $463.31 on Friday. The firm has a 50 day simple moving average of $470.60 and a two-hundred day simple moving average of $465.69. The stock has a market cap of $108.55 billion, a PE ratio of 20.01, a P/E/G ratio of 1.61 and a beta of 0.28. Lockheed Martin Corporation has a one year low of $418.88 and a one year high of $618.95. 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 (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. The company 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%. On average, analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, September 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.

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