Lockheed Martin Co. (NYSE:LMT) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,874 shares of the aerospace company’s stock after selling 126 shares during the period. Griffin Asset Management Inc.’s holdings in Lockheed Martin were worth $3,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LMT. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of 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 buying an additional 3,247 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $33,294,000. Private Advisor Group LLC boosted its holdings in shares of Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after acquiring an additional 5,075 shares during the period. State of Wyoming boosted its holdings in shares of Lockheed Martin by 93.9% in the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock valued at $541,000 after acquiring an additional 539 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Lockheed Martin by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock worth $49,893,000 after purchasing an additional 3,809 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 3.5%

Shares of LMT stock opened at $485.75 on Friday. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95. The firm’s fifty day simple moving average is $470.72 and its 200 day simple moving average is $470.42. The firm has a market capitalization of $113.81 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its 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. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

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 issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.72%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Analysts Set New Price Targets

Several equities research analysts have commented on LMT shares. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Baird R W raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a research note on Wednesday, April 16th. UBS Group upped their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped 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 note on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $541.80.

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.