Lockheed Martin Corporation (NYSE:LMT) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,502 shares of the aerospace company's stock after selling 601 shares during the period. WASHINGTON TRUST Co's holdings in Lockheed Martin were worth $13,626,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Pacific Wealth Strategies Group Inc. boosted its holdings in Lockheed Martin by 1.5% in the first quarter. Pacific Wealth Strategies Group Inc. now owns 3,077 shares of the aerospace company's stock valued at $1,375,000 after purchasing an additional 45 shares during the last quarter. Canandaigua National Trust Co of Florida lifted its holdings in Lockheed Martin by 13.0% in the first quarter. Canandaigua National Trust Co of Florida now owns 1,979 shares of the aerospace company's stock valued at $884,000 after acquiring an additional 227 shares during the period. LifePlan Financial LLC purchased a new stake in Lockheed Martin in the 1st quarter worth approximately $340,000. Northwest Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $203,000. Finally, Amalgamated Bank grew its stake in shares of Lockheed Martin by 0.8% during the 1st quarter. Amalgamated Bank now owns 45,199 shares of the aerospace company's stock worth $20,191,000 after purchasing an additional 339 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LMT shares. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Wall Street Zen lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded down $3.12 during midday trading on Wednesday, hitting $462.82. The company's stock had a trading volume of 1,127,121 shares, compared to its average volume of 1,353,208. The company has a market cap of $108.44 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.62 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. The business's 50 day simple moving average is $470.96 and its 200 day simple moving average is $466.07. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. On average, analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.85%. Lockheed Martin's dividend payout ratio is presently 57.02%.

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.