Kaydan Wealth Management Inc. Sells 23 Shares of Lockheed Martin Co. (NYSE:LMT)

Kaydan Wealth Management Inc. trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659 shares of the aerospace company’s stock after selling 23 shares during the period. Kaydan Wealth Management Inc.’s holdings in Lockheed Martin were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LMT. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin in the 4th quarter worth about $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at about $35,000. Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Lockheed Martin in the fourth quarter worth approximately $42,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 4.0%

Shares of NYSE:LMT opened at $466.91 on Tuesday. The firm’s 50 day moving average price is $471.23 and its 200 day moving average price is $469.21. The stock has a market cap of $109.39 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. 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 quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LMT. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, UBS Group boosted their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” 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 issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus 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.