Scharf Investments LLC Sells 3,546 Shares of Lockheed Martin Corporation (NYSE:LMT)

Scharf Investments LLC reduced its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,240 shares of the aerospace company's stock after selling 3,546 shares during the period. Lockheed Martin makes up approximately 2.6% of Scharf Investments LLC's investment portfolio, making the stock its 19th biggest position. Scharf Investments LLC owned about 0.08% of Lockheed Martin worth $86,769,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in Lockheed Martin during the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $42,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 0.0%

NYSE LMT traded down $0.16 during trading hours on Thursday, reaching $458.23. The company's stock had a trading volume of 1,589,017 shares, compared to its average volume of 1,352,553. The firm has a fifty day simple moving average of $470.90 and a 200-day simple moving average of $467.16. The stock has a market cap of $107.36 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.60 and a beta of 0.29. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week 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 released its quarterly earnings results 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. The firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. Equities analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed 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 of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. Lockheed Martin's dividend payout ratio (DPR) is 57.02%.

Analyst Ratings Changes

Several research firms have weighed in on LMT. Wells Fargo & Company cut their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. UBS Group upped their price objective on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report 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. Finally, Jefferies Financial Group dropped their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus 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.