Lockheed Martin Corporation (NYSE:LMT) Stake Reduced by Balboa Wealth Partners

Balboa Wealth Partners reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,309 shares of the aerospace company’s stock after selling 44 shares during the quarter. Balboa Wealth Partners’ holdings in Lockheed Martin were worth $585,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LMT. LaFleur & Godfrey LLC lifted its holdings in shares of Lockheed Martin by 18.0% in the fourth quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company’s stock valued at $562,000 after buying an additional 176 shares during the period. Eagle Capital Management LLC lifted its holdings in shares of Lockheed Martin by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company’s stock valued at $5,261,000 after buying an additional 32 shares during the period. Brighton Jones LLC lifted its holdings in shares of Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the last quarter. Hudson Portfolio Management LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at $256,000. Finally, Howard Capital Management Inc. lifted its holdings in shares of Lockheed Martin by 20.0% during the fourth quarter. Howard Capital Management Inc. now owns 3,492 shares of the aerospace company’s stock valued at $1,697,000 after purchasing an additional 581 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

LMT opened at $472.16 on Tuesday. The firm has a market capitalization of $110.63 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.64 and a beta of 0.29. The stock’s 50 day moving average price is $471.56 and its two-hundred day moving average price is $467.62. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 12-month low of $418.88 and a 12-month high of $618.95.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.80%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LMT shares. Royal Bank Of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research note on Wednesday, April 16th. Robert W. Baird raised Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research note on Wednesday, April 23rd. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Wells Fargo & Company reduced their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Nine 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $541.80.

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.