Easterly Investment Partners LLC Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Easterly Investment Partners LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.9% during the first quarter, HoldingsChannel.com reports. The fund owned 2,368 shares of the aerospace company’s stock after selling 121 shares during the period. Easterly Investment Partners LLC’s holdings in Lockheed Martin were worth $1,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Pacific Financial acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $26,000. Activest Wealth Management increased its holdings in shares of Lockheed Martin by 1,200.0% during the 4th quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after buying an additional 60 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in shares of Lockheed Martin by 1,925.0% during the 4th quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock valued at $37,000 after buying an additional 77 shares during the period. Finally, Thompson Investment Management Inc. acquired a new position in Lockheed Martin in the first quarter valued at approximately $38,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.5 %

Shares of NYSE LMT traded down $2.16 during midday trading on Wednesday, hitting $458.14. The company’s stock had a trading volume of 272,369 shares, compared to its average volume of 1,065,115. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The firm has a market capitalization of $109.93 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 4.35 and a beta of 0.46. The business’s fifty day simple moving average is $465.01 and its two-hundred day simple moving average is $451.23. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $479.50.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm earned $6.43 earnings per share. On average, equities analysts predict that Lockheed Martin Co. will post 26.17 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup lifted their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. UBS Group increased their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $475.00 to $518.00 in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $485.40.

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.