CENTRAL TRUST Co Trims Stake in Lockheed Martin Co. (NYSE:LMT)

CENTRAL TRUST Co lessened its position in Lockheed Martin Co. (NYSE:LMT) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,339 shares of the aerospace company’s stock after selling 294 shares during the quarter. CENTRAL TRUST Co’s holdings in Lockheed Martin were worth $6,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund increased its position in Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Lockheed Martin in the 4th quarter worth about $33,294,000. Private Advisor Group LLC grew its position in Lockheed Martin by 11.0% during the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after purchasing an additional 5,075 shares during the last quarter. State of Wyoming increased its stake in Lockheed Martin by 93.9% during the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock valued at $541,000 after purchasing an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Lockheed Martin by 3.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock worth $49,893,000 after buying an additional 3,809 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. UBS Group increased their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a report on Wednesday, April 16th. Finally, 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 report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Stock Down 4.0%

Shares of LMT stock opened at $466.91 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. The stock has a market cap of $109.39 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.07 and a beta of 0.29. The company has a 50 day simple moving average of $471.23 and a two-hundred day simple moving average of $469.21.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. On average, research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Lockheed Martin 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.