Robertson Stephens Wealth Management LLC Sells 3,013 Shares of Lockheed Martin Corporation (NYSE:LMT)

Robertson Stephens Wealth Management LLC decreased its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 56.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,367 shares of the aerospace company's stock after selling 3,013 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Lockheed Martin were worth $1,057,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in Lockheed Martin in the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter worth about $35,000. Redwood Park Advisors LLC bought a new position in Lockheed Martin during the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Lockheed Martin during the fourth quarter worth about $42,000. Institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Wells Fargo & Company reduced their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Finally, Melius cut Lockheed Martin from a "buy" rating to a "hold" rating 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 given a strong buy rating to the company's stock. According to MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Trading Down 2.3%

NYSE LMT opened at $468.27 on Thursday. The stock has a market capitalization of $109.72 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.67 and a beta of 0.29. The stock's 50 day moving average price is $471.66 and its two-hundred day moving average price is $469.27. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. As a group, analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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

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.

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