Rice Partnership LLC Sells 803 Shares of Lockheed Martin Corporation (NYSE:LMT)

Rice Partnership LLC lowered its stake in Lockheed Martin Corporation (NYSE:LMT) by 27.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,117 shares of the aerospace company’s stock after selling 803 shares during the quarter. Rice Partnership LLC’s holdings in Lockheed Martin were worth $946,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Lockheed Martin in the 4th quarter valued at $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at $35,000. Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Lockheed Martin in the 4th quarter valued at $42,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on LMT shares. Jefferies Financial Group lowered their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target for the company in a research report on Wednesday, April 16th. Finally, Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price target for the company 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, the company has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Price Performance

LMT opened at $463.31 on Friday. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The company has a market capitalization of $108.55 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.61 and a beta of 0.28. The firm’s fifty day moving average price is $470.60 and its two-hundred day moving average price is $465.57. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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 firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. As a group, analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin’s payout ratio is 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.