Townsquare Capital LLC Lowers Stock Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Townsquare Capital LLC reduced its stake in Lockheed Martin by 21.2%, selling 4,409 shares and now holding a total of 16,363 shares worth $7.31 million.
• Several hedge funds, including GAMMA Investing LLC, significantly increased their positions in Lockheed Martin, with GAMMA raising its stake by an astonishing 41,104.9%.
• Lockheed Martin reported an EPS of $7.29 for the last quarter, surpassing estimates, though its revenue of $18.16 billion fell short of analysts' expectations.

Townsquare Capital LLC trimmed its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 21.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,363 shares of the aerospace company's stock after selling 4,409 shares during the quarter. Townsquare Capital LLC's holdings in Lockheed Martin were worth $7,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TruNorth Capital Management LLC purchased a new position in shares of Lockheed Martin in the first quarter worth $31,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter valued at $35,000. Banque Transatlantique SA bought a new stake in Lockheed Martin in the fourth quarter valued at $43,000. EQ Wealth Advisors LLC bought a new stake in Lockheed Martin in the first quarter valued at $43,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new stake in Lockheed Martin in the first quarter valued at $45,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LMT shares. TD Cowen reiterated a "hold" rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. UBS Group dropped their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Robert W. Baird dropped their target price on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Finally, Morgan Stanley upgraded shares of 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. Fifteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Price Performance

Shares of LMT stock traded up $0.54 during trading hours on Monday, hitting $426.17. 1,461,532 shares of the company's stock were exchanged, compared to its average volume of 2,284,224. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The firm has a market cap of $99.49 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.49 and a beta of 0.27. The firm has a 50 day moving average of $456.14 and a two-hundred day moving average of $458.12. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the previous year, the business earned $7.11 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.1%. Lockheed Martin's dividend payout ratio is currently 74.32%.

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.