Lockheed Martin Corporation $LMT Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its position in Lockheed Martin Corporation (NYSE:LMT) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,233 shares of the aerospace company’s stock after selling 4,301 shares during the period. Fifth Third Bancorp’s holdings in Lockheed Martin were worth $36,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Barnes Dennig Private Wealth Management LLC increased its holdings in Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after buying an additional 40 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in Lockheed Martin during the 3rd quarter worth about $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Lockheed Martin during the 2nd quarter worth about $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth about $29,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at about $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 2.3%

Shares of NYSE:LMT opened at $652.41 on Tuesday. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $656.34. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The stock has a market cap of $150.11 billion, a P/E ratio of 30.36, a P/E/G ratio of 1.18 and a beta of 0.23. The firm has a fifty day moving average price of $549.18 and a 200 day moving average price of $496.37.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same period in the previous year, the company posted $7.67 earnings per share. Lockheed Martin’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be given a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 64.22%.

Analyst Ratings Changes

Several research firms recently weighed in on LMT. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Citigroup boosted their price objective on shares of Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $654.00 target price on shares of Lockheed Martin in a research report on Friday, February 6th. Jefferies Financial Group boosted their price target on shares of Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research report on Sunday, February 1st. Finally, TD Cowen upped their price objective on shares of Lockheed Martin from $600.00 to $670.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $612.50.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.