Dividend Assets Capital LLC boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 12,068 shares of the aerospace company’s stock after purchasing an additional 477 shares during the period. Dividend Assets Capital LLC’s holdings in Lockheed Martin were worth $4,459,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Enterprise Bank & Trust Co raised its position in shares of Lockheed Martin by 4.8% in the fourth quarter. Enterprise Bank & Trust Co now owns 8,467 shares of the aerospace company’s stock valued at $3,006,000 after purchasing an additional 385 shares during the period. Private Asset Management Inc. raised its holdings in shares of Lockheed Martin by 92.2% in the fourth quarter. Private Asset Management Inc. now owns 1,011 shares of the aerospace company’s stock valued at $359,000 after buying an additional 485 shares during the last quarter. Woodstock Corp bought a new stake in Lockheed Martin during the 4th quarter worth about $228,000. Fulton Bank N.A. raised its holdings in Lockheed Martin by 2.9% during the 4th quarter. Fulton Bank N.A. now owns 4,992 shares of the aerospace company’s stock worth $1,772,000 after purchasing an additional 140 shares during the last quarter. Finally, West Oak Capital LLC raised its holdings in Lockheed Martin by 1.7% during the 4th quarter. West Oak Capital LLC now owns 5,390 shares of the aerospace company’s stock worth $1,913,000 after purchasing an additional 90 shares during the last quarter. 77.00% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO John Frank A. St sold 6,855 shares of the company’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $371.95, for a total transaction of $2,549,717.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maryanne Lavan sold 5,406 shares of the company’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $383.84, for a total value of $2,075,039.04. In the last ninety days, insiders have sold 15,707 shares of company stock valued at $5,925,208. Insiders own 0.17% of the company’s stock.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share for the quarter, topping analysts’ consensus estimates of $6.32 by $0.24. Lockheed Martin had a return on equity of 173.43% and a net margin of 10.18%. The firm had revenue of $16.26 billion during the quarter, compared to the consensus estimate of $16.42 billion. During the same quarter in the prior year, the firm posted $6.08 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, equities analysts predict that Lockheed Martin Co. will post 24.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Tuesday, June 1st will be given a dividend of $2.60 per share. This represents a $10.40 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, May 28th. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.38%.
Several analysts have weighed in on the company. Morgan Stanley boosted their price objective on Lockheed Martin from $445.00 to $458.00 and gave the stock an “overweight” rating in a report on Tuesday, April 27th. Robert W. Baird cut Lockheed Martin from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $420.00 to $368.00 in a report on Thursday, January 7th. Wolfe Research started coverage on Lockheed Martin in a research report on Friday, April 9th. They set a “peer perform” rating for the company. Cowen restated a “buy” rating and set a $410.00 target price on shares of Lockheed Martin in a research report on Thursday, April 22nd. Finally, Credit Suisse Group decreased their target price on Lockheed Martin from $351.00 to $334.00 in a research report on Wednesday, January 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Lockheed Martin has a consensus rating of “Buy” and a consensus target price of $427.11.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
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