Lockheed Martin Co. (NYSE:LMT) Shares Sold by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 695 shares of the aerospace company’s stock after selling 29 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Lockheed Martin were worth $332,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on LMT shares. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and cut their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. UBS Group lifted their price target on Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Down 4.0%

NYSE:LMT opened at $466.91 on Tuesday. Lockheed Martin Co. has a 52 week low of $418.88 and a 52 week high of $618.95. The stock’s fifty day moving average is $471.23 and its two-hundred day moving average is $469.21. The stock has a market capitalization of $109.39 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.83%. 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.