Washington Trust Bank Sells 617 Shares of Lockheed Martin Corporation (NYSE:LMT)

Washington Trust Bank cut its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 37.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,013 shares of the aerospace company's stock after selling 617 shares during the period. Washington Trust Bank's holdings in Lockheed Martin were worth $453,000 as of its most recent SEC filing.

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

Lockheed Martin Price Performance

LMT stock opened at $463.31 on Monday. 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 Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The firm has a 50-day moving average of $470.60 and a 200 day moving average of $465.47. The company has a market cap of $108.55 billion, a P/E ratio of 20.01, a PEG ratio of 1.61 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $17.83 billion. On average, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is 57.02%.

Analyst Ratings Changes

LMT has been the subject of several recent research reports. Melius downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. UBS Group lifted their price objective on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Jefferies Financial Group dropped their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Company 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.

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