DAGCO Inc. grew its position in Lockheed Martin Co. (NYSE:LMT) by 22.4% in the first quarter, HoldingsChannel reports. The fund owned 1,089 shares of the aerospace company’s stock after acquiring an additional 199 shares during the quarter. DAGCO Inc.’s holdings in Lockheed Martin were worth $402,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Morgan Stanley raised its holdings in Lockheed Martin by 11.6% in the 4th quarter. Morgan Stanley now owns 3,471,172 shares of the aerospace company’s stock worth $1,232,196,000 after purchasing an additional 360,344 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Lockheed Martin by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,548,204 shares of the aerospace company’s stock worth $904,562,000 after purchasing an additional 31,066 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Lockheed Martin by 18.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,757,161 shares of the aerospace company’s stock worth $623,757,000 after purchasing an additional 269,127 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Lockheed Martin by 219.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,592,890 shares of the aerospace company’s stock valued at $565,444,000 after buying an additional 1,093,517 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Lockheed Martin by 2.2% in the 4th quarter. California Public Employees Retirement System now owns 1,280,669 shares of the aerospace company’s stock worth $454,612,000 after buying an additional 27,703 shares during the last quarter. 77.00% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Maryanne Lavan sold 5,406 shares of Lockheed Martin stock in a transaction dated Thursday, April 22nd. The stock was sold at an average price of $383.84, for a total transaction of $2,075,039.04. Also, EVP Richard F. Ambrose sold 3,446 shares of the business’s stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $377.38, for a total transaction of $1,300,451.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,707 shares of company stock worth $5,925,208. 0.17% of the stock is owned by insiders.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.32 by $0.24. The business had revenue of $16.26 billion for the quarter, compared to analyst estimates of $16.42 billion. Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $6.08 earnings per share. As a group, equities analysts predict that Lockheed Martin Co. will post 24.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Tuesday, June 1st will be given a dividend of $2.60 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $10.40 annualized dividend and a dividend yield of 2.69%. Lockheed Martin’s dividend payout ratio is currently 47.38%.
LMT has been the topic of a number of research analyst reports. Cowen reaffirmed a “buy” rating and issued a $410.00 price target on shares of Lockheed Martin in a research note on Thursday, April 22nd. Robert W. Baird cut shares of Lockheed Martin from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $420.00 to $368.00 in a research note on Thursday, January 7th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $445.00 to $458.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. Wolfe Research started coverage on shares of Lockheed Martin in a report on Friday, April 9th. They set a “peer perform” rating for the company. Finally, Credit Suisse Group decreased their price target on Lockheed Martin from $351.00 to $334.00 in a research note on Wednesday, January 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target 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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