Acadian Asset Management LLC cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 49.8% in the first quarter, HoldingsChannel.com reports. The firm owned 1,605 shares of the aerospace company’s stock after selling 1,595 shares during the period. Acadian Asset Management LLC’s holdings in Lockheed Martin were worth $482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Advisors Preferred LLC acquired a new position in shares of Lockheed Martin in the first quarter worth about $26,000. Heritage Wealth Advisors raised its position in shares of Lockheed Martin by 304.3% in the first quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 70 shares during the period. Bremer Trust National Association acquired a new position in shares of Lockheed Martin in the fourth quarter worth about $25,000. ERTS Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth about $26,000. Finally, Lake Point Wealth Management purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

In related news, Director David B. Burritt sold 2,100 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $330.21, for a total transaction of $693,441.00. Following the completion of the sale, the director now owns 6,030 shares of the company’s stock, valued at approximately $1,991,166.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

LMT has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Lockheed Martin from $300.00 to $324.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 13th. ValuEngine cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Robert W. Baird boosted their target price on shares of Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Bank of America reissued a “buy” rating and set a $400.00 target price (up previously from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. Finally, UBS Group boosted their target price on shares of Lockheed Martin from $365.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $355.13.

Shares of NYSE LMT opened at $345.51 on Thursday. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $358.63. The stock has a market cap of $96.93 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.96.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $1.70. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The company had revenue of $14.34 billion during the quarter, compared to analysts’ expectations of $12.48 billion. During the same quarter in the prior year, the company earned $4.02 EPS. Lockheed Martin’s revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts forecast that Lockheed Martin Co. will post 20.53 earnings per share for the current year.

The firm 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 $2.20 per share. The ex-dividend date is Friday, May 31st. This represents a $8.80 annualized dividend and a yield of 2.55%. Lockheed Martin’s dividend payout ratio is presently 49.30%.

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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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