Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Focused Investors LLC

Focused Investors LLC cut its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,400 shares of the aerospace company’s stock after selling 5,100 shares during the period. Lockheed Martin makes up about 2.4% of Focused Investors LLC’s holdings, making the stock its 22nd biggest position. Focused Investors LLC owned 0.07% of Lockheed Martin worth $75,226,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in Lockheed Martin during the 4th quarter valued at $32,000. TruNorth Capital Management LLC purchased a new position in shares of Lockheed Martin during the first quarter valued at $31,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin during the fourth quarter valued at $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin in the 4th quarter worth about $35,000. Finally, Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $40,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.7%

Lockheed Martin stock opened at $467.48 on Monday. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The firm has a fifty day moving average price of $469.54 and a two-hundred day moving average price of $464.67. The firm has a market cap of $109.53 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.63 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. As a group, analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin’s payout ratio is currently 57.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LMT shares. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price on the stock in a report on Wednesday, April 23rd. TD Cowen reiterated a “hold” rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Truist Financial lowered their price target on shares of Lockheed Martin from $579.00 to $554.00 and set a “buy” rating on the stock in a report on Friday. Finally, Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $531.47.

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.