Matisse Capital Sells 49 Shares of Lockheed Martin Corporation (NYSE:LMT)

Matisse Capital reduced its position in Lockheed Martin Corporation (NYSE:LMT) by 4.1% in the 1st quarter, Holdings Channel reports. The firm owned 1,133 shares of the aerospace company’s stock after selling 49 shares during the quarter. Matisse Capital’s holdings in Lockheed Martin were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gold Investment Management Ltd. lifted its position in Lockheed Martin by 3.6% in the first quarter. Gold Investment Management Ltd. now owns 8,920 shares of the aerospace company’s stock worth $3,985,000 after purchasing an additional 309 shares during the period. 3Chopt Investment Partners LLC bought a new position in Lockheed Martin in the first quarter worth $759,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Lockheed Martin by 14.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,566 shares of the aerospace company’s stock worth $88,989,000 after purchasing an additional 25,688 shares during the period. Reston Wealth Management LLC lifted its position in Lockheed Martin by 4.5% in the first quarter. Reston Wealth Management LLC now owns 533 shares of the aerospace company’s stock worth $238,000 after purchasing an additional 23 shares during the period. Finally, Money Concepts Capital Corp lifted its position in Lockheed Martin by 4.6% in the first quarter. Money Concepts Capital Corp now owns 8,014 shares of the aerospace company’s stock worth $3,580,000 after purchasing an additional 356 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $458.59 on Friday. The stock has a 50-day simple moving average of $470.80 and a 200 day simple moving average of $466.78. The company has a quick ratio of 0.91, a current ratio of 1.08 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 stock has a market capitalization of $107.45 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.60 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 (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The business had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. On average, research analysts anticipate that Lockheed Martin Corporation 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, September 26th. Investors of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.88%. Lockheed Martin’s payout ratio is 57.02%.

Analyst Ratings Changes

LMT has been the subject of a number of analyst reports. Robert W. Baird raised 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. Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a report on Wednesday, April 16th. Jefferies Financial Group cut their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Finally, UBS Group lifted 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. Nine equities research 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. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

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.