Lockheed Martin Co. (NYSE:LMT) Shares Sold by Legacy Private Trust Co.

Legacy Private Trust Co. trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 43.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,672 shares of the aerospace company’s stock after selling 3,562 shares during the period. Legacy Private Trust Co.’s holdings in Lockheed Martin were worth $2,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Central Pacific Bank Trust Division lifted its position in shares of Lockheed Martin by 11.1% during the 1st quarter. Central Pacific Bank Trust Division now owns 630 shares of the aerospace company’s stock valued at $281,000 after acquiring an additional 63 shares during the period. Versant Capital Management Inc lifted its stake in Lockheed Martin by 219.1% in the 1st quarter. Versant Capital Management Inc now owns 753 shares of the aerospace company’s stock valued at $336,000 after buying an additional 517 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in Lockheed Martin by 19.2% during the 1st quarter. Global Wealth Strategies & Associates now owns 621 shares of the aerospace company’s stock valued at $277,000 after buying an additional 100 shares during the last quarter. M1 Capital Management LLC purchased a new position in Lockheed Martin during the fourth quarter worth $235,000. Finally, DSG Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth $235,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LMT. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company decreased their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price on the stock in a research report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Performance

NYSE:LMT opened at $473.66 on Friday. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The stock has a market cap of $110.98 billion, a P/E ratio of 21.28, a PEG ratio of 2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a 50-day moving average of $463.25 and a two-hundred day moving average of $475.07.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results 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 return on equity of 101.47% and a net margin of 7.51%. The firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. On average, research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 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.