Balefire LLC Trims Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Balefire LLC lessened its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 46.7% during the first quarter, HoldingsChannel.com reports. The fund owned 2,520 shares of the aerospace company’s stock after selling 2,206 shares during the period. Balefire LLC’s holdings in Lockheed Martin were worth $1,126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. KPP Advisory Services LLC raised its stake in shares of Lockheed Martin by 160.8% during the first quarter. KPP Advisory Services LLC now owns 2,548 shares of the aerospace company’s stock worth $1,138,000 after acquiring an additional 1,571 shares in the last quarter. Flavin Financial Services Inc. lifted its stake in Lockheed Martin by 8.6% in the first quarter. Flavin Financial Services Inc. now owns 4,619 shares of the aerospace company’s stock worth $2,064,000 after purchasing an additional 364 shares during the last quarter. Western Wealth Management LLC boosted its position in Lockheed Martin by 20.8% during the first quarter. Western Wealth Management LLC now owns 4,355 shares of the aerospace company’s stock valued at $1,945,000 after buying an additional 750 shares during the period. Nvest Financial LLC grew its stake in shares of Lockheed Martin by 0.6% during the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company’s stock valued at $1,617,000 after buying an additional 23 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Lockheed Martin by 0.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 85,766 shares of the aerospace company’s stock valued at $38,313,000 after buying an additional 386 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LMT. Robert W. Baird raised Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research report on Wednesday, April 23rd. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Wells Fargo & Company dropped 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 report on Tuesday, April 8th. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Wall Street Zen cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Nine 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 stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Trading Down 0.3%

Shares of NYSE LMT opened at $458.72 on Thursday. The firm’s 50 day moving average price is $471.01 and its 200-day moving average price is $467.51. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The company has a market cap of $107.48 billion, a PE ratio of 19.82, a P/E/G ratio of 1.60 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating 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 business had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. On average, equities research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.88%. 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.