Aspen Investment Management Inc Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Aspen Investment Management Inc trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,919 shares of the aerospace company’s stock after selling 55 shares during the quarter. Aspen Investment Management Inc’s holdings in Lockheed Martin were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the third quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Capital Performance Advisors LLP bought a new position in Lockheed Martin during the 3rd quarter valued at approximately $40,000. Legacy Investment Solutions LLC purchased a new position in Lockheed Martin during the third quarter valued at $42,000. Finally, Vestor Capital LLC bought a new stake in Lockheed Martin in the third quarter worth $46,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Citigroup decreased their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. UBS Group reduced their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada lowered their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Up 0.8 %

Lockheed Martin stock opened at $436.47 on Friday. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The stock has a fifty day moving average of $471.01 and a 200 day moving average of $529.69. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market cap of $102.74 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.03 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.14 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 3.02%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

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.