Bangor Savings Bank Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Bangor Savings Bank lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 19.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,097 shares of the aerospace company’s stock after selling 268 shares during the period. Bangor Savings Bank’s holdings in Lockheed Martin were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LMT. Altshuler Shaham Ltd purchased a new position in shares of Lockheed Martin during the fourth quarter valued at $26,000. Activest Wealth Management increased its stake in shares of Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after buying an additional 60 shares during the period. Providence Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at $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 purchasing an additional 77 shares during the last quarter. 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 purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.3 %

Lockheed Martin stock opened at $467.60 on Monday. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $479.50. The company has a market capitalization of $112.20 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 4.39 and a beta of 0.47. The stock has a 50-day moving average price of $463.71 and a 200 day moving average price of $449.69. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

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

Lockheed Martin Announces Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on LMT. Deutsche Bank Aktiengesellschaft lifted 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. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. UBS Group lifted their target price on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group cut their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. Finally, Citigroup boosted their price target on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $485.40.

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.