Lockheed Martin Corporation (NYSE:LMT) Shares Sold by CNB Bank

by · The Markets Daily

CNB Bank lowered its position in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 22.5% in the 1st quarter, Holdings Channel reports. The fund owned 1,588 shares of the aerospace company’s stock after selling 462 shares during the period. CNB Bank’s holdings in Lockheed Martin were worth $709,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of LMT. First American Bank increased its stake in shares of Lockheed Martin by 18.8% in the first quarter. First American Bank now owns 8,393 shares of the aerospace company’s stock valued at $3,749,000 after purchasing an additional 1,327 shares during the period. Aquatic Capital Management LLC bought a new position in Lockheed Martin in the 4th quarter worth approximately $33,294,000. State of Wyoming grew its holdings in Lockheed Martin by 93.9% in the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock worth $541,000 after buying an additional 539 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its position in Lockheed Martin by 18.6% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company’s stock valued at $7,652,000 after acquiring an additional 2,686 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Lockheed Martin by 3.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock valued at $49,893,000 after acquiring an additional 3,809 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the subject of several recent analyst reports. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target for the company in a research note on Wednesday, April 16th. Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Wells Fargo & Company decreased 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 report on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Read Our Latest Analysis on Lockheed Martin

Lockheed Martin Trading Down 0.0%

Shares of NYSE:LMT opened at $458.23 on Friday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a market capitalization of $107.36 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.60 and a beta of 0.29. Lockheed Martin Corporation has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a 50 day moving average price of $470.90 and a 200 day moving average price of $467.16.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The company had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. On average, research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.88%. Lockheed Martin’s payout ratio is presently 57.02%.

About Lockheed Martin

(Free Report)

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.

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