Lockheed Martin Co. (NYSE:LMT) Holdings Lowered by Independence Bank of Kentucky

Independence Bank of Kentucky trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,231 shares of the aerospace company’s stock after selling 25 shares during the period. Independence Bank of Kentucky’s holdings in Lockheed Martin were worth $1,443,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC lifted its stake in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after acquiring an additional 59,597 shares in the last quarter. Northern Trust Corp lifted its stake in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after acquiring an additional 134,662 shares in the last quarter. Invesco Ltd. lifted its stake in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after acquiring an additional 318,007 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after acquiring an additional 1,986,600 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LMT shares. UBS Group increased their price objective on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. 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 research note on Wednesday, April 23rd. Finally, Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $481.49 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a market cap of $112.81 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.07 and a beta of 0.29. The business’s 50-day simple moving average is $467.56 and its 200-day simple moving average is $472.45. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. The business 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 101.47% and a net margin of 7.51%. As a group, equities research analysts expect that Lockheed Martin Co. will post 27.15 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 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is 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.