Lockheed Martin Co. (NYSE:LMT) Shares Sold by Wedmont Private Capital

Wedmont Private Capital trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,197 shares of the aerospace company’s stock after selling 277 shares during the period. Wedmont Private Capital’s holdings in Lockheed Martin were worth $983,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Norris Perne & French LLP MI lifted its holdings in shares of Lockheed Martin by 2.8% during the fourth quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock valued at $410,000 after purchasing an additional 25 shares during the last quarter. Genesee Capital Advisors LLC lifted its holdings in shares of Lockheed Martin by 2.8% during the fourth quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock valued at $419,000 after purchasing an additional 25 shares during the last quarter. Hunter Associates Investment Management LLC lifted its holdings in shares of Lockheed Martin by 1.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock valued at $912,000 after purchasing an additional 25 shares during the last quarter. Missouri Trust & Investment Co lifted its holdings in shares of Lockheed Martin by 19.8% during the fourth quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock valued at $68,000 after purchasing an additional 25 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its holdings in shares of Lockheed Martin by 7.1% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 377 shares of the aerospace company’s stock valued at $171,000 after purchasing an additional 25 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $467.69 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50. The stock’s 50-day moving average is $463.71 and its two-hundred day moving average is $449.66. The firm has a market cap of $112.22 billion, a P/E ratio of 17.11, a PEG ratio of 4.39 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. The company had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.43 EPS. Analysts predict that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s dividend payout ratio is 46.10%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LMT shares. Wells Fargo & Company upped their price target on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Citigroup upped their price target on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price target for the company from $475.00 to $518.00 in a research report on Monday, April 15th. UBS Group upped their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $485.40.

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.