CNB Bank Decreases Position in Lockheed Martin Corporation (NYSE:LMT)

CNB Bank lowered its stake in Lockheed Martin Corporation (NYSE:LMT) by 22.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,588 shares of the aerospace company’s stock after selling 462 shares during the quarter. CNB Bank’s holdings in Lockheed Martin were worth $709,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of LMT. Millstone Evans Group LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin in the fourth quarter valued at $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter valued at $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Lockheed Martin during the 4th quarter worth $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMT has been the subject of a number of analyst reports. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Royal Bank Of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Wells Fargo & Company reduced their target price 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. Finally, Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Down 0.0%

LMT stock opened at $458.23 on Friday. The firm has a market cap of $107.36 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.60 and a beta of 0.29. Lockheed Martin Corporation has a 1-year low of $418.88 and a 1-year high of $618.95. The firm has a fifty day moving average price of $470.90 and a two-hundred day moving average price of $467.16. 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 posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin’s dividend payout ratio (DPR) 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.