Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Lockheed Martin by selling 10,230 shares, now holding approximately 21.48 million shares, valued at around $9.6 billion.
• Lockheed Martin reported earnings of $7.29 per share for the last quarter, surpassing analysts' estimates, while also announcing a quarterly dividend of $3.30 per share with a yield of 3.1%.
• Market analysts have varying ratings for Lockheed Martin, with a consensus target price of $506.65, highlighting a mix of "hold" and "overweight" ratings from major investment firms.

Vanguard Group Inc. decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 0.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 21,482,962 shares of the aerospace company's stock after selling 10,230 shares during the period. Vanguard Group Inc. owned 9.17% of Lockheed Martin worth $9,596,654,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. PTM Wealth Management LLC purchased a new position in shares of Lockheed Martin in the 1st quarter worth approximately $377,000. First American Bank grew its position in shares of Lockheed Martin by 18.8% in the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after buying an additional 1,327 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Lockheed Martin during the 4th quarter worth approximately $33,294,000. Cantor Fitzgerald Investment Advisors L.P. grew its position in Lockheed Martin by 18.6% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after purchasing an additional 2,686 shares during the last quarter. Finally, State of Wyoming grew its position in Lockheed Martin by 93.9% during the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after purchasing an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 0.9%

Shares of NYSE:LMT traded down $3.74 during mid-day trading on Thursday, reaching $431.11. 1,489,595 shares of the company were exchanged, compared to its average volume of 2,259,029. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The firm has a market cap of $100.65 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.52 and a beta of 0.27. The firm's 50-day simple moving average is $457.25 and its 200 day simple moving average is $459.23. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95.

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

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued 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 yield of 3.1%. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Analyst Ratings Changes

Several analysts have weighed in on LMT shares. TD Cowen reissued a "hold" rating and set a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the company a "market perform" rating in a research note on Monday, July 14th. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group reduced their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Fifteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin 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.