Lockheed Martin Co. (NYSE:LMT) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,963 shares of the aerospace company’s stock after selling 5,079 shares during the quarter. QRG Capital Management Inc.’s holdings in Lockheed Martin were worth $20,085,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Millstone Evans Group LLC purchased a new position in Lockheed Martin during the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the 4th quarter worth $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth $35,000. Redwood Park Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin during the 4th quarter worth $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 3.5%

Shares of NYSE LMT opened at $485.75 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The firm has a 50-day moving average price of $470.72 and a 200 day moving average price of $469.65. The stock has a market capitalization of $113.81 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

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 firm had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s payout ratio is currently 57.02%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group lowered their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Monday, April 28th. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.