Whitener Capital Management Inc. Sells 602 Shares of Lockheed Martin Corporation (NYSE:LMT)

Whitener Capital Management Inc. lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 35.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,075 shares of the aerospace company's stock after selling 602 shares during the period. Whitener Capital Management Inc.'s holdings in Lockheed Martin were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LMT. 49 Wealth Management LLC boosted its holdings in Lockheed Martin by 3.4% in the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after purchasing an additional 22 shares during the period. OMNI 360 Wealth Inc. lifted its holdings in shares of Lockheed Martin by 2.5% during the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after acquiring an additional 22 shares during the period. Private Portfolio Partners LLC lifted its holdings in shares of Lockheed Martin by 4.8% during the 4th quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock worth $244,000 after acquiring an additional 23 shares during the period. Tealwood Asset Management Inc. lifted its holdings in shares of Lockheed Martin by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after acquiring an additional 23 shares during the period. Finally, Southland Equity Partners LLC lifted its holdings in shares of Lockheed Martin by 3.1% during the 1st quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock worth $342,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Up 0.7%

NYSE LMT traded up $3.17 on Friday, hitting $467.48. The company's stock had a trading volume of 1,208,544 shares, compared to its average volume of 1,367,613. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 1-year low of $418.88 and a 1-year high of $618.95. The company's 50-day moving average is $469.54 and its 200 day moving average is $464.85. The firm has a market cap of $109.53 billion, a PE ratio of 20.19, a PEG ratio of 1.64 and a beta of 0.28.

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

Lockheed Martin Dividend Announcement

The business also recently declared 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 yield of 2.82%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is 57.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LMT. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Wall Street Zen cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. UBS Group upped their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $531.47.

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.