American International Group Inc. Trims Position in Lockheed Martin Co. (NYSE:LMT)

American International Group Inc. cut its position in Lockheed Martin Co. (NYSE:LMT) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,471 shares of the aerospace company’s stock after selling 1,614 shares during the period. American International Group Inc.’s holdings in Lockheed Martin were worth $24,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC purchased a new position in Lockheed Martin during the fourth quarter valued at $116,000. Advisor Resource Council purchased a new position in Lockheed Martin during the fourth quarter valued at $528,000. HB Wealth Management LLC grew its stake in Lockheed Martin by 3.5% during the fourth quarter. HB Wealth Management LLC now owns 10,890 shares of the aerospace company’s stock valued at $4,936,000 after acquiring an additional 370 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in Lockheed Martin by 8.9% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 3,675 shares of the aerospace company’s stock valued at $1,666,000 after acquiring an additional 300 shares in the last quarter. Finally, Rheos Capital Works Inc. grew its stake in Lockheed Martin by 94.4% during the fourth quarter. Rheos Capital Works Inc. now owns 31,300 shares of the aerospace company’s stock valued at $14,186,000 after acquiring an additional 15,200 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on LMT. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada increased their price objective on shares of Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a research report on Wednesday. UBS Group increased their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $509.64.

Lockheed Martin Trading Up 2.8 %

Shares of Lockheed Martin stock traded up $13.91 during trading on Wednesday, hitting $515.20. The stock had a trading volume of 2,575,526 shares, compared to its average volume of 1,079,280. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $519.59. The firm’s fifty day simple moving average is $467.28 and its 200-day simple moving average is $452.98. The stock has a market cap of $123.62 billion, a PE ratio of 18.85, a PEG ratio of 4.48 and a beta of 0.46. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the business posted $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.1 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.45%. 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.