Princeton Global Asset Management LLC Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Princeton Global Asset Management LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 7,976 shares of the aerospace company’s stock after selling 361 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Lockheed Martin were worth $3,563,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the fourth quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin during the 4th quarter valued at $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth $35,000. Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin in the fourth quarter worth $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Lockheed Martin during the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.7%

LMT opened at $481.49 on Friday. The stock has a market cap of $112.81 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. 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’s fifty day moving average is $467.56 and its 200 day moving average is $472.45. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results 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 analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.74%. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. UBS Group increased their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Royal Bank of Canada lowered shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company reduced 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 report on Tuesday, April 8th. Finally, Robert W. Baird upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price target on the stock in a research note on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $541.80.

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.