Wolff Wiese Magana LLC Trims Stake in Lockheed Martin Corporation (NYSE:LMT)

Wolff Wiese Magana LLC cut its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 97.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 106 shares of the aerospace company's stock after selling 3,502 shares during the quarter. Wolff Wiese Magana LLC's holdings in Lockheed Martin were worth $47,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin in the 4th quarter valued at $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LMT. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Morgan Stanley upgraded 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. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Wall Street Zen cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Nine investment 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, Lockheed Martin has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Stock Performance

Lockheed Martin stock traded up $1.61 during mid-day trading on Friday, reaching $470.21. 2,416,865 shares of the company's stock were exchanged, compared to its average volume of 1,338,657. The firm has a market capitalization of $110.17 billion, a PE ratio of 20.31, a P/E/G ratio of 1.64 and a beta of 0.29. The business's fifty day simple moving average is $471.63 and its 200 day simple moving average is $467.91. 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 one year low of $418.88 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its 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. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. On average, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Lockheed Martin 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.