Wealthfront Advisers LLC Lowers Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Wealthfront Advisers LLC lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,627 shares of the aerospace company's stock after selling 1,473 shares during the period. Wealthfront Advisers LLC's holdings in Lockheed Martin were worth $11,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after acquiring an additional 1,986,600 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Lockheed Martin in the fourth quarter valued at approximately $526,587,000. Leigh Baldwin & CO. LLC acquired a new position in Lockheed Martin during the 4th quarter worth approximately $451,985,000. Capital Research Global Investors purchased a new position in Lockheed Martin in the 4th quarter valued at about $229,987,000. Finally, Demars Financial Group LLC increased its stake in shares of Lockheed Martin by 47,002.5% in the fourth quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company's stock worth $210,579,000 after buying an additional 432,423 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LMT. Wall Street Zen lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Wells Fargo & Company reduced 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. Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target for the company in a report on Wednesday, April 23rd. UBS Group raised their price target on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Finally, Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $532.69.

Lockheed Martin Price Performance

LMT stock traded down $1.50 during midday trading on Thursday, reaching $469.97. 565,766 shares of the stock were exchanged, compared to its average volume of 1,366,803. The company has a fifty day moving average price of $469.66 and a 200 day moving average price of $464.66. The stock has a market capitalization of $110.11 billion, a PE ratio of 20.29, a P/E/G ratio of 1.65 and a beta of 0.28. Lockheed Martin Corporation has a 52 week low of $418.88 and a 52 week high of $618.95. 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 (NYSE:LMT - Get Free Report) last posted its quarterly earnings data 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 business 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, analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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