Princeton Capital Management LLC Lowers Holdings in Lockheed Martin Corporation (NYSE:LMT)

Princeton Capital Management LLC lowered its stake in Lockheed Martin Corporation (NYSE:LMT) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 700 shares of the aerospace company’s stock after selling 50 shares during the quarter. Princeton Capital Management LLC’s holdings in Lockheed Martin were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of LMT. Eagle Capital Management LLC boosted its holdings in shares of Lockheed Martin by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company’s stock valued at $5,261,000 after buying an additional 32 shares in the last quarter. Brighton Jones LLC raised its position in Lockheed Martin by 5.0% in the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the period. Hudson Portfolio Management LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $256,000. Congress Wealth Management LLC DE lifted its stake in shares of Lockheed Martin by 35.1% in the 4th quarter. Congress Wealth Management LLC DE now owns 9,989 shares of the aerospace company’s stock worth $4,854,000 after acquiring an additional 2,597 shares during the period. Finally, CoreFirst Bank & Trust bought a new position in shares of Lockheed Martin in the fourth quarter valued at $118,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LMT. Vertical Research reaffirmed a “hold” rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday. Morgan Stanley upgraded shares of 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 lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Susquehanna cut their target price on Lockheed Martin from $550.00 to $490.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $506.65.

Lockheed Martin Price Performance

LMT traded up $6.88 during trading on Thursday, reaching $426.27. The stock had a trading volume of 789,967 shares, compared to its average volume of 1,647,186. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The stock has a market cap of $99.88 billion, a PE ratio of 23.95, a PEG ratio of 1.79 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.91 and a current ratio of 0.98. The business has a 50-day moving average of $467.58 and a 200-day moving average of $463.32.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the firm posted $7.11 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin’s payout ratio is 57.02%.

Lockheed Martin 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.