Sagespring Wealth Partners LLC Sells 157 Shares of Lockheed Martin Corporation (NYSE:LMT)

Sagespring Wealth Partners LLC trimmed its position in Lockheed Martin Corporation (NYSE:LMT) by 8.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,814 shares of the aerospace company’s stock after selling 157 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Lockheed Martin were worth $810,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Precedent Wealth Partners LLC lifted its holdings in Lockheed Martin by 15.3% in the 1st quarter. Precedent Wealth Partners LLC now owns 3,336 shares of the aerospace company’s stock worth $1,490,000 after purchasing an additional 443 shares in the last quarter. Great Lakes Retirement Inc. lifted its holdings in shares of Lockheed Martin by 302.7% in the first quarter. Great Lakes Retirement Inc. now owns 22,175 shares of the aerospace company’s stock worth $9,906,000 after buying an additional 16,669 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Lockheed Martin during the first quarter worth $2,100,000. Montecito Bank & Trust grew its stake in Lockheed Martin by 5.9% during the first quarter. Montecito Bank & Trust now owns 630 shares of the aerospace company’s stock valued at $281,000 after acquiring an additional 35 shares in the last quarter. Finally, Columbus Macro LLC increased its holdings in Lockheed Martin by 2.5% in the 1st quarter. Columbus Macro LLC now owns 11,969 shares of the aerospace company’s stock valued at $5,347,000 after acquiring an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 2.5%

Shares of NYSE:LMT opened at $478.91 on Wednesday. The firm has a market capitalization of $112.21 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29. The business has a 50 day simple moving average of $471.55 and a two-hundred day simple moving average of $469.28. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. On average, equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.76%. Lockheed Martin’s dividend payout ratio (DPR) is currently 57.02%.

Wall Street Analyst Weigh In

LMT has been the subject of several research reports. Baird R W raised shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. UBS Group raised their price target on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 23rd. Robert W. Baird raised Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group cut their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Finally, Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

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.