Rhumbline Advisers Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Rhumbline Advisers cut its stake in Lockheed Martin Co. (NYSE:LMT) by 0.1% during the 4th quarter, HoldingsChannel reports. The fund owned 387,643 shares of the aerospace company’s stock after selling 320 shares during the period. Rhumbline Advisers’ holdings in Lockheed Martin were worth $188,371,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $26,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter valued at approximately $35,000. Capital Performance Advisors LLP bought a new position in Lockheed Martin during the 3rd quarter worth approximately $40,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $42,000. Finally, Vestor Capital LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $46,000. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LMT shares. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Susquehanna decreased their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. UBS Group decreased their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Performance

LMT stock opened at $423.15 on Friday. The company has a 50-day simple moving average of $478.88 and a 200 day simple moving average of $533.59. The company has a market capitalization of $99.60 billion, a P/E ratio of 19.01, a PEG ratio of 2.12 and a beta of 0.48. 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 Co. has a fifty-two week low of $418.58 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts predict that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

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.