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

Washington Trust Bank decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 37.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LMT. Penserra Capital Management LLC lifted its stake in Lockheed Martin by 42.2% in the first quarter. Penserra Capital Management LLC now owns 36,823 shares of the aerospace company's stock valued at $16,448,000 after buying an additional 10,925 shares during the period. Pure Portfolios Holdings LLC increased its stake in shares of Lockheed Martin by 6.1% in the 1st quarter. Pure Portfolios Holdings LLC now owns 1,169 shares of the aerospace company's stock valued at $522,000 after acquiring an additional 67 shares during the last quarter. Jackson Wealth Management LLC increased its stake in shares of Lockheed Martin by 0.5% in the 1st quarter. Jackson Wealth Management LLC now owns 9,637 shares of the aerospace company's stock valued at $4,305,000 after acquiring an additional 48 shares during the last quarter. One Day In July LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at approximately $345,000. Finally, Maj Invest Holding A S bought a new position in Lockheed Martin during the 1st quarter worth approximately $141,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Up 1.4%

Lockheed Martin stock traded up $6.42 during mid-day trading on Monday, reaching $468.94. The company's stock had a trading volume of 1,223,396 shares, compared to its average volume of 1,357,155. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The business's 50 day simple moving average is $470.60 and its 200 day simple moving average is $465.47. The company has a market capitalization of $109.87 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.61 and a beta of 0.28. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 104.09% and a net margin of 7.66%. As a group, research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin's dividend payout ratio is presently 57.02%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Wells Fargo & Company lowered their price objective on shares of 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. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group lowered their price target on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.