Narwhal Capital Management Trims Stake in Lockheed Martin Corporation (NYSE:LMT)

Narwhal Capital Management cut its holdings in Lockheed Martin Corporation (NYSE:LMT) by 13.1% during the 1st quarter, Holdings Channel reports. The fund owned 31,528 shares of the aerospace company’s stock after selling 4,742 shares during the period. Lockheed Martin comprises 1.3% of Narwhal Capital Management’s portfolio, making the stock its 20th biggest holding. Narwhal Capital Management’s holdings in Lockheed Martin were worth $14,084,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $685.00 to $485.00 in a report on Monday, March 24th. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. UBS Group upped their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Robert W. Baird raised Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price target on the stock in a report on Wednesday, April 23rd. Finally, Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Nine 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Trading Up 0.3%

Shares of Lockheed Martin stock opened at $470.21 on Monday. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The business has a 50-day moving average price of $471.63 and a 200-day moving average price of $467.91. The firm has a market cap of $110.17 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.64 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last announced 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. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The company had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s dividend payout ratio (DPR) 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.