Penobscot Investment Management Company Inc. Has $1.91 Million Holdings in Lockheed Martin Corporation (NYSE:LMT)

Penobscot Investment Management Company Inc. lessened its stake in Lockheed Martin Corporation (NYSE:LMT) by 10.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,278 shares of the aerospace company’s stock after selling 474 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Lockheed Martin were worth $1,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Flavin Financial Services Inc. raised 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 valued at $2,064,000 after purchasing an additional 364 shares in the last quarter. Western Wealth Management LLC raised its stake 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 worth $1,945,000 after acquiring an additional 750 shares in the last quarter. Nvest Financial LLC raised its stake in Lockheed Martin by 0.6% during the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company’s stock worth $1,617,000 after acquiring an additional 23 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in 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 worth $38,313,000 after acquiring an additional 386 shares in the last quarter. Finally, Kavar Capital Partners Group LLC raised its stake in Lockheed Martin by 4.3% during the first quarter. Kavar Capital Partners Group LLC now owns 7,314 shares of the aerospace company’s stock worth $3,267,000 after acquiring an additional 299 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LMT. UBS Group boosted their target price on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their target price on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $458.72 on Thursday. The business has a 50 day moving average of $471.01 and a 200-day moving average of $467.51. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The company has a market capitalization of $107.48 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.60 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 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 predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.88%. Lockheed Martin’s payout ratio is presently 57.02%.

Lockheed Martin Company 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.