Riverbend Wealth Management LLC Reduces Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Riverbend Wealth Management LLC cut its stake in Lockheed Martin Corporation (NYSE:LMT) by 20.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 768 shares of the aerospace company’s stock after selling 194 shares during the period. Riverbend Wealth Management LLC’s holdings in Lockheed Martin were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Millstone Evans Group LLC acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $35,000. Redwood Park Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on LMT. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. UBS Group upped their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Nine investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Stock Down 2.5%

Shares of NYSE LMT opened at $460.63 on Wednesday. The stock has a market cap of $107.93 billion, a P/E ratio of 19.90, a PEG ratio of 1.65 and a beta of 0.29. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 12-month low of $418.88 and a 12-month high of $618.95. The business’s fifty day simple moving average is $471.38 and its 200-day simple moving average is $467.58.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. As a group, equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS 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. Investors of record on Monday, June 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.87%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 57.02%.

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.