Fifth Third Bancorp Sells 9,389 Shares of Lockheed Martin Co. (NYSE:LMT)

Fifth Third Bancorp lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 10.7% during the 1st quarter, HoldingsChannel reports. The fund owned 78,163 shares of the aerospace company’s stock after selling 9,389 shares during the quarter. Fifth Third Bancorp’s holdings in Lockheed Martin were worth $34,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Lockheed Martin by 17.9% during 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 in the last quarter. Geode Capital Management LLC grew its holdings in Lockheed Martin by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after buying an additional 59,597 shares in the last quarter. Northern Trust Corp raised its position in shares of Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after buying an additional 134,662 shares during 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. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 2.7%

NYSE LMT opened at $468.96 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The firm has a market capitalization of $109.88 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.07 and a beta of 0.29. The company has a fifty day moving average of $469.84 and a two-hundred day moving average of $470.67.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have commented on LMT shares. Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. UBS Group lifted their price objective on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $541.80.

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.