MUFG Securities EMEA plc Sells 6,999 Shares of Lockheed Martin Corporation (NYSE:LMT)
MUFG Securities EMEA plc has reduced its stake in Lockheed Martin Corporation (NYSE:LMT) by 41.2%, selling 6,999 shares during the 1st quarter, leaving it with 10,000 shares valued at approximately $4.47 million. The company has a market cap of $99.38 billion and reported earnings of $7.29 per share, exceeding estimates. Lockheed Martin also announced a quarterly dividend of $3.30 per share, with a yield of 3.1%. Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a price target of $506.65.
MUFG Securities EMEA plc reduced its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 41.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,000 shares of the aerospace company's stock after selling 6,999 shares during the quarter. MUFG Securities EMEA plc's holdings in Lockheed Martin were worth $4,467,000 at the end of the most recent quarter.
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Several other hedge funds have also recently bought and sold shares of LMT. TruNorth Capital Management LLC bought a new stake in Lockheed Martin during the 1st quarter worth approximately $31,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter worth approximately $35,000. Banque Transatlantique SA bought a new stake in Lockheed Martin during the 4th quarter worth approximately $43,000. EQ Wealth Advisors LLC bought a new stake in Lockheed Martin during the 1st quarter worth approximately $43,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new stake in Lockheed Martin during the 1st quarter worth approximately $45,000. 74.19% of the stock is owned by institutional investors.
Lockheed Martin Stock Performance
LMT opened at $425.68 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The company's fifty day moving average price is $456.14 and its two-hundred day moving average price is $458.67. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The company has a market cap of $99.38 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.51 and a beta of 0.27.
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Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the prior year, the company posted $7.11 earnings per share. The business's revenue was up .2% on a year-over-year basis. On average, analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.
Lockheed Martin Announces Dividend
The firm 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 is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.1%. Lockheed Martin's dividend payout ratio is presently 74.32%.
Analyst Ratings Changes
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A number of equities research analysts have weighed in on LMT shares. UBS Group reduced their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada dropped their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Susquehanna dropped their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Jefferies Financial Group dropped their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Finally, Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Fifteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has a consensus rating of "Hold" and a consensus price target of $506.65.
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Lockheed Martin Profile
(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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