Lockheed Martin Co. (NYSE:LMT) Shares Sold by Hoey Investments Inc.

Hoey Investments Inc. lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 20.1% in the first quarter, HoldingsChannel reports. The firm owned 1,842 shares of the aerospace company’s stock after selling 462 shares during the quarter. Lockheed Martin makes up approximately 0.2% of Hoey Investments Inc.’s holdings, making the stock its 28th biggest holding. Hoey Investments Inc.’s holdings in Lockheed Martin were worth $823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $35,000. Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 3.5%

NYSE:LMT opened at $485.75 on Friday. The firm has a market capitalization of $113.81 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The business’s fifty day moving average price is $470.72 and its 200 day moving average price is $470.42.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The company had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. On average, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is 57.02%.

Analyst Ratings Changes

LMT has been the subject of a number of research analyst reports. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Baird R W raised Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, Wells Fargo & Company cut their price objective on 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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $541.80.

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.