Symphony Financial Ltd. Co. Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Symphony Financial Ltd. Co. lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 15.2% in the 4th quarter, HoldingsChannel reports. The fund owned 1,984 shares of the aerospace company’s stock after selling 356 shares during the period. Symphony Financial Ltd. Co.’s holdings in Lockheed Martin were worth $1,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin during the third quarter worth $26,000. Mattson Financial Services LLC purchased a new position in Lockheed Martin during the 2nd quarter worth $27,000. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the third quarter valued at about $32,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter worth about $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Lockheed Martin during the third quarter worth about $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on LMT shares. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday. TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada dropped their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Up 0.6 %

LMT stock opened at $462.53 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.12 and a current ratio of 1.13. The firm’s fifty day moving average is $492.29 and its 200 day moving average is $536.42. The firm has a market cap of $108.88 billion, a PE ratio of 20.78, a P/E/G ratio of 3.78 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, research analysts forecast that Lockheed Martin Co. will post 27.09 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.85%. Lockheed Martin’s payout ratio is currently 59.30%.

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.