Prentice Wealth Management LLC Decreases Holdings in Lockheed Martin Co. (NYSE:LMT)

Prentice Wealth Management LLC reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 3.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 988 shares of the aerospace company’s stock after selling 36 shares during the period. Prentice Wealth Management LLC’s holdings in Lockheed Martin were worth $441,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin in the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin in the fourth quarter worth $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Lockheed Martin in the fourth quarter valued at $42,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LMT. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their target price on shares of 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. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Jefferies Financial Group cut their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Stock Performance

NYSE LMT opened at $485.75 on Friday. The company’s 50 day simple moving average is $470.72 and its two-hundred day simple moving average is $470.04. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95. The stock has a market capitalization of $113.81 billion, a PE ratio of 21.82, a P/E/G ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Analysts predict 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. Shareholders of record on Monday, June 2nd will be paid a $3.30 dividend. 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 2.72%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

About Lockheed Martin

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.