Adirondack Trust Co. Sells 32 Shares of Lockheed Martin Co. (NYSE:LMT)

Adirondack Trust Co. cut its stake in Lockheed Martin Co. (NYSE:LMT) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,039 shares of the aerospace company’s stock after selling 32 shares during the quarter. Lockheed Martin accounts for about 1.1% of Adirondack Trust Co.’s investment portfolio, making the stock its 21st largest holding. Adirondack Trust Co.’s holdings in Lockheed Martin were worth $2,586,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norris Perne & French LLP MI increased its position in shares of Lockheed Martin by 2.8% during the 4th quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock worth $410,000 after purchasing an additional 25 shares during the last quarter. Genesee Capital Advisors LLC increased its position in shares of Lockheed Martin by 2.8% during the 4th quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock worth $419,000 after purchasing an additional 25 shares during the last quarter. Hunter Associates Investment Management LLC increased its position in shares of Lockheed Martin by 1.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock worth $912,000 after purchasing an additional 25 shares during the last quarter. Missouri Trust & Investment Co increased its position in shares of Lockheed Martin by 19.8% during the 4th quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock worth $68,000 after purchasing an additional 25 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Lockheed Martin by 1.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,694 shares of the aerospace company’s stock valued at $693,000 after acquiring an additional 26 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded down $0.02 during trading hours on Tuesday, hitting $458.99. 124,932 shares of the company were exchanged, compared to its average volume of 1,062,396. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $479.50. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The business has a 50-day moving average of $462.67 and a 200-day moving average of $449.28. The stock has a market capitalization of $110.13 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 4.31 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.43 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup lifted their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group lowered their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $485.40.

About Lockheed Martin

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.