Continuum Advisory LLC Sells 4,048 Shares of Lockheed Martin Corporation (NYSE:LMT)

Continuum Advisory LLC lessened its stake in Lockheed Martin Corporation (NYSE:LMT) by 81.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 936 shares of the aerospace company’s stock after selling 4,048 shares during the period. Continuum Advisory LLC’s holdings in Lockheed Martin were worth $418,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after buying an additional 1,132,461 shares during the period. Geode Capital Management LLC increased its stake in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after buying an additional 59,597 shares during the period. Northern Trust Corp increased its stake in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after buying an additional 134,662 shares during the period. Invesco Ltd. increased its stake in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after buying an additional 318,007 shares during the period. Finally, GAMMA Investing LLC increased its stake in Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after buying an additional 1,986,600 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.3%

Shares of Lockheed Martin stock opened at $472.16 on Tuesday. The firm’s 50 day moving average price is $471.56 and its 200-day moving average price is $467.62. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a market cap of $110.63 billion, a P/E ratio of 20.40, a PEG ratio of 1.64 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. On average, sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s payout ratio is currently 57.02%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Jefferies Financial Group cut their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Monday, April 28th. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. UBS Group raised their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. 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 company. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $541.80.

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.