Wedmont Private Capital Sells 277 Shares of Lockheed Martin Co. (NYSE:LMT)

Wedmont Private Capital lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 11.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,197 shares of the aerospace company’s stock after selling 277 shares during the quarter. Wedmont Private Capital’s holdings in Lockheed Martin were worth $983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LMT. Altshuler Shaham Ltd bought a new stake in Lockheed Martin in the fourth quarter valued at about $26,000. Activest Wealth Management increased its holdings in Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. Providence Capital Advisors LLC bought a new stake in Lockheed Martin in the third quarter valued at about $35,000. Iron Horse Wealth Management LLC grew its stake in Lockheed Martin by 1,925.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock valued at $37,000 after acquiring an additional 77 shares during the period. Finally, TFC Financial Management Inc. grew its stake in Lockheed Martin by 206.9% in the fourth quarter. TFC Financial Management Inc. now owns 89 shares of the aerospace company’s stock valued at $40,000 after acquiring an additional 60 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $475.00 to $518.00 in a research note on Monday, April 15th. The Goldman Sachs Group decreased their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, Citigroup boosted their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Stock Up 0.3 %

LMT stock opened at $467.69 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The stock has a market capitalization of $112.22 billion, a P/E ratio of 17.11, a P/E/G ratio of 4.39 and a beta of 0.47. The business has a 50-day moving average of $463.71 and a 200-day moving average of $449.66. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same quarter in the prior year, the company posted $6.43 earnings per share. Lockheed Martin’s revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $12.60 annualized dividend and a yield of 2.69%. Lockheed Martin’s payout ratio is presently 46.10%.

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.