Sumitomo Mitsui Trust Holdings Inc. Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 611,178 shares of the aerospace company’s stock after selling 10,628 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Lockheed Martin were worth $278,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LMT. Alps Advisors Inc. raised its stake in Lockheed Martin by 11.2% during the 3rd quarter. Alps Advisors Inc. now owns 17,698 shares of the aerospace company’s stock valued at $7,238,000 after purchasing an additional 1,785 shares during the period. Eubel Brady & Suttman Asset Management Inc. boosted its position in shares of Lockheed Martin by 2.0% during the third quarter. Eubel Brady & Suttman Asset Management Inc. now owns 40,254 shares of the aerospace company’s stock worth $16,462,000 after acquiring an additional 801 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its stake in Lockheed Martin by 7.4% during the third quarter. LaSalle St. Investment Advisors LLC now owns 859 shares of the aerospace company’s stock valued at $351,000 after acquiring an additional 59 shares in the last quarter. Lowe Brockenbrough & Co. Inc. boosted its holdings in shares of Lockheed Martin by 0.6% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 12,417 shares of the aerospace company’s stock valued at $5,078,000 after purchasing an additional 75 shares during the last quarter. Finally, KPP Advisory Services LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at about $371,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price target 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. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Citigroup increased their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group reduced their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have assigned 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, the stock presently has an average rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Trading Up 0.1 %

Shares of NYSE LMT opened at $466.15 on Thursday. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The company has a market cap of $111.85 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 4.38 and a beta of 0.46. The business’s 50 day moving average price is $465.05 and its 200-day moving average price is $450.65.

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

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

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.