Rhumbline Advisers Sells 20,507 Shares of Lockheed Martin Co. (NYSE:LMT)

Rhumbline Advisers decreased its position in Lockheed Martin Co. (NYSE:LMT) by 5.3% during the 1st quarter, Holdings Channel reports. The firm owned 367,136 shares of the aerospace company’s stock after selling 20,507 shares during the period. Rhumbline Advisers’ holdings in Lockheed Martin were worth $164,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin in the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth approximately $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin in the fourth quarter worth approximately $42,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $481.30 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $112.77 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.07 and a beta of 0.29. The business has a fifty day simple moving average of $464.02 and a two-hundred day simple moving average of $473.45. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion during 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%. On average, equities analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend 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 presently 57.02%.

Analyst Ratings Changes

LMT has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price on the stock in a report on Wednesday, April 16th. Baird R W raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.