OLD National Bancorp IN Decreases Holdings in Lockheed Martin Co. (NYSE:LMT)

OLD National Bancorp IN lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.1% in the first quarter, Holdings Channel.com reports. The firm owned 26,444 shares of the aerospace company’s stock after selling 1,122 shares during the period. OLD National Bancorp IN’s holdings in Lockheed Martin were worth $11,813,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund boosted its position in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after purchasing an additional 3,247 shares during the period. Aquatic Capital Management LLC bought a new position in Lockheed Martin during the fourth quarter worth about $33,294,000. Private Advisor Group LLC boosted its position in Lockheed Martin by 11.0% during the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock worth $24,906,000 after purchasing an additional 5,075 shares during the period. State of Wyoming boosted its position in Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock worth $541,000 after purchasing an additional 539 shares during the period. Finally, Soltis Investment Advisors LLC boosted its position in Lockheed Martin by 42.5% during the fourth quarter. Soltis Investment Advisors LLC now owns 13,935 shares of the aerospace company’s stock worth $6,772,000 after purchasing an additional 4,159 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LMT. Wall Street Zen lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 3rd. Royal Bank of Canada lowered shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Trading Up 0.7%

Shares of Lockheed Martin stock opened at $481.49 on Friday. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95. The firm has a market cap of $112.81 billion, a PE ratio of 21.63, a PEG ratio of 2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a 50 day simple moving average of $467.56 and a two-hundred day simple moving average of $472.01.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.74%. 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.