Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners lessened its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 3.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,309 shares of the aerospace company’s stock after selling 44 shares during the quarter. Balboa Wealth Partners’ holdings in Lockheed Martin were worth $585,000 at the end of the most recent quarter.

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

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $472.16 on Tuesday. The stock’s 50 day moving average price is $471.56 and its 200 day moving average price is $467.62. The firm has a market capitalization of $110.63 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. Lockheed Martin Corporation has a one year low of $418.88 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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 104.09% and a net margin of 7.66%. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. As a group, sell-side analysts expect that Lockheed Martin Corporation 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 $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 57.02%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LMT. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Wells Fargo & Company dropped their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Bank of America cut 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. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus 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.