Parsons Capital Management Inc. RI Sells 2,022 Shares of Lockheed Martin Co. (NYSE:LMT)

Parsons Capital Management Inc. RI reduced its position in Lockheed Martin Co. (NYSE:LMT) by 21.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,538 shares of the aerospace company’s stock after selling 2,022 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Lockheed Martin were worth $3,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after buying an additional 59,597 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after buying an additional 134,662 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Lockheed Martin by 17.5% in the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after buying an additional 318,007 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after buying an additional 1,986,600 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

Shares of LMT opened at $480.88 on Tuesday. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a 50 day moving average price of $468.12 and a 200-day moving average price of $471.09. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market capitalization of $112.67 billion, a PE ratio of 21.60, a PEG ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last posted its 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 net margin of 7.51% and a return on equity of 101.47%. The company had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Equities analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.74%. Lockheed Martin’s payout ratio is 57.02%.

Analysts Set New Price Targets

Several research firms have recently commented on LMT. UBS Group boosted their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Finally, Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price target on the stock in a research note on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $541.80.

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.