Bowling Portfolio Management LLC Sells 4,023 Shares of Lockheed Martin Co. (NYSE:LMT)

Bowling Portfolio Management LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 38.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,375 shares of the aerospace company’s stock after selling 4,023 shares during the period. Bowling Portfolio Management LLC’s holdings in Lockheed Martin were worth $2,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LMT. Key Financial Inc bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $26,000. Veritas Investment Partners UK Ltd. purchased a new stake in Lockheed Martin during the 4th quarter worth approximately $26,000. TRU Independence Asset Management 2 LLC purchased a new stake in Lockheed Martin during the 4th quarter worth approximately $29,000. Encompass Wealth Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter worth approximately $29,000. Finally, ForthRight Wealth Management LLC purchased a new stake in Lockheed Martin during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 77.00% of the company’s stock.

NYSE LMT traded down $0.30 on Wednesday, reaching $387.03. The company had a trading volume of 11,960 shares, compared to its average volume of 1,890,916. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.33 and a quick ratio of 1.12. The firm has a market capitalization of $108.41 billion, a PE ratio of 16.78, a P/E/G ratio of 1.98 and a beta of 0.92. Lockheed Martin Co. has a 1 year low of $319.81 and a 1 year high of $417.62. The firm has a 50-day moving average of $362.89 and a 200-day moving average of $357.78.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.32 by $0.24. Lockheed Martin had a return on equity of 173.43% and a net margin of 10.18%. The business had revenue of $16.26 billion for the quarter, compared to analyst estimates of $16.42 billion. During the same period in the prior year, the company posted $6.08 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Lockheed Martin Co. will post 24.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Monday, March 1st were given a $2.60 dividend. This represents a $10.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Friday, February 26th. Lockheed Martin’s dividend payout ratio is presently 47.38%.

A number of brokerages have recently commented on LMT. Credit Suisse Group reduced their target price on shares of Lockheed Martin from $351.00 to $334.00 in a research report on Wednesday, January 27th. Robert W. Baird cut shares of Lockheed Martin from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $420.00 to $368.00 in a report on Thursday, January 7th. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $445.00 to $458.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wolfe Research initiated coverage on shares of Lockheed Martin in a research report on Friday, April 9th. They issued a “peer perform” rating on the stock. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $424.08.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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