First Trust Direct Indexing L.P. Sells 553 Shares of Lockheed Martin Co. (NYSE:LMT)

First Trust Direct Indexing L.P. cut its position in Lockheed Martin Co. (NYSE:LMT) by 9.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,373 shares of the aerospace company’s stock after selling 553 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Lockheed Martin were worth $2,444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. KPP Advisory Services LLC acquired a new position in Lockheed Martin in the 3rd quarter valued at $371,000. Jackson Wealth Management LLC raised its holdings in Lockheed Martin by 2.8% in the 3rd quarter. Jackson Wealth Management LLC now owns 20,062 shares of the aerospace company’s stock valued at $8,205,000 after acquiring an additional 553 shares in the last quarter. Seven Eight Capital LP acquired a new position in Lockheed Martin in the 3rd quarter valued at $1,353,000. Royal London Asset Management Ltd. raised its holdings in Lockheed Martin by 2.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 87,178 shares of the aerospace company’s stock valued at $35,675,000 after acquiring an additional 1,999 shares in the last quarter. Finally, Cito Capital Group LLC raised its holdings in Lockheed Martin by 7.7% in the 3rd quarter. Cito Capital Group LLC now owns 1,400 shares of the aerospace company’s stock valued at $573,000 after acquiring an additional 100 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LMT has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Citigroup boosted their price target on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised 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 report on Monday, April 15th. Finally, UBS Group boosted their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Price Performance

Shares of LMT opened at $466.03 on Friday. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $479.50. The business has a 50-day simple moving average of $465.21 and a two-hundred day simple moving average of $450.86. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The stock has a market cap of $111.82 billion, a PE ratio of 17.05, a PEG ratio of 4.39 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. During the same quarter in the prior year, the firm earned $6.43 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.70%. Lockheed Martin’s dividend payout ratio (DPR) 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.