Abacus Wealth Partners LLC Has $239,000 Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Abacus Wealth Partners LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 9.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 525 shares of the aerospace company’s stock after selling 55 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Lockheed Martin were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. Thomasville National Bank increased its position in Lockheed Martin by 2.7% in the first quarter. Thomasville National Bank now owns 9,091 shares of the aerospace company’s stock worth $4,135,000 after purchasing an additional 237 shares during the period. Signal Advisors Wealth LLC increased its position in Lockheed Martin by 9.0% in the first quarter. Signal Advisors Wealth LLC now owns 532 shares of the aerospace company’s stock worth $242,000 after purchasing an additional 44 shares during the period. Montecito Bank & Trust increased its position in Lockheed Martin by 4.6% in the first quarter. Montecito Bank & Trust now owns 609 shares of the aerospace company’s stock worth $277,000 after purchasing an additional 27 shares during the period. Welch Group LLC increased its position in Lockheed Martin by 3.3% in the first quarter. Welch Group LLC now owns 115,366 shares of the aerospace company’s stock worth $52,477,000 after purchasing an additional 3,681 shares during the period. Finally, Alaska Permanent Fund Corp acquired a new stake in Lockheed Martin in the first quarter worth about $217,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the subject of a number of research reports. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted 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. The Goldman Sachs Group decreased their target price 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. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Finally, Wells Fargo & Company boosted their target price on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Stock Up 1.4 %

Shares of NYSE:LMT traded up $6.38 during trading on Thursday, hitting $466.38. 1,041,391 shares of the company’s stock traded hands, compared to its average volume of 1,066,735. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week 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 company has a market cap of $111.90 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 4.33 and a beta of 0.47. The company has a 50-day moving average price of $463.37 and a 200-day moving average price of $449.54.

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

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s payout ratio is 46.10%.

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.