Lockheed Martin Corporation (NYSE:LMT) Stock Position Decreased by Scharf Investments LLC

Scharf Investments LLC lessened its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 194,240 shares of the aerospace company's stock after selling 3,546 shares during the period. Lockheed Martin comprises approximately 2.6% of Scharf Investments LLC's portfolio, making the stock its 19th largest position. Scharf Investments LLC owned 0.08% of Lockheed Martin worth $86,769,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LaFleur & Godfrey LLC grew its stake in shares of Lockheed Martin by 18.0% during the fourth quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock worth $562,000 after purchasing an additional 176 shares in the last quarter. Eagle Capital Management LLC lifted its position in Lockheed Martin by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after acquiring an additional 32 shares during the period. Brighton Jones LLC lifted its position in Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after acquiring an additional 191 shares during the period. Hudson Portfolio Management LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $256,000. Finally, Transcend Capital Advisors LLC lifted its position in Lockheed Martin by 6.0% during the 4th quarter. Transcend Capital Advisors LLC now owns 1,719 shares of the aerospace company's stock worth $835,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Up 0.3%

NYSE LMT traded up $1.60 on Monday, hitting $472.16. 2,643,502 shares of the stock traded hands, compared to its average volume of 1,343,968. The stock has a 50-day moving average of $471.56 and a 200 day moving average of $467.62. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a market capitalization of $110.63 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79.

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

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio is currently 57.02%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LMT. Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Wells Fargo & Company dropped their price target 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. Jefferies Financial Group lowered 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. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Finally, Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a report on Wednesday, April 16th. Nine investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $541.80.

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.