Epoch Investment Partners Inc. Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Epoch Investment Partners Inc. lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 16.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,197 shares of the aerospace company’s stock after selling 46,199 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Lockheed Martin were worth $90,500,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Clean Yield Group purchased a new stake in shares of Lockheed Martin during the second quarter valued at approximately $25,000. Sierra Capital LLC purchased a new stake in Lockheed Martin in the first quarter worth $36,000. Selective Wealth Management Inc. purchased a new stake in Lockheed Martin in the second quarter worth $38,000. Paragon Wealth Strategies LLC purchased a new stake in Lockheed Martin in the second quarter worth $42,000. Finally, Godsey & Gibb Associates lifted its stake in Lockheed Martin by 91.8% in the second quarter. Godsey & Gibb Associates now owns 117 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 56 shares during the period. 74.51% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on LMT. Wells Fargo & Company raised their price target on Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 27th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $370.20 price target (down previously from $394.00) on shares of Lockheed Martin in a research note on Tuesday, July 27th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Lockheed Martin in a research note on Friday, September 10th. The Goldman Sachs Group lowered Lockheed Martin from a “buy” rating to a “neutral” rating and set a $402.00 price target for the company. in a research note on Thursday, September 23rd. Finally, Cowen lowered Lockheed Martin from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $400.00 to $375.00 in a research note on Wednesday, September 29th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and a consensus price target of $396.03.

Shares of NYSE:LMT traded up $0.52 on Thursday, hitting $362.28. 14,051 shares of the company traded hands, compared to its average volume of 1,450,672. Lockheed Martin Co. has a 52 week low of $319.81 and a 52 week high of $396.99. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.79. The stock has a 50 day simple moving average of $353.25 and a 200-day simple moving average of $371.76. The company has a market cap of $100.32 billion, a PE ratio of 14.21, a PEG ratio of 3.23 and a beta of 0.98.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Sunday, July 25th. The aerospace company reported $6.52 earnings per share for the quarter, missing the consensus estimate of $6.53 by ($0.01). Lockheed Martin had a net margin of 10.69% and a return on equity of 123.35%. The company had revenue of $17.03 billion for the quarter, compared to the consensus estimate of $16.93 billion. During the same quarter in the previous year, the business earned $5.79 earnings per share. Lockheed Martin’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 23.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 27th. Stockholders of record on Wednesday, December 1st will be issued a dividend of $2.80 per share. The ex-dividend date of this dividend is Tuesday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.60. This represents a $11.20 annualized dividend and a dividend yield of 3.09%. Lockheed Martin’s dividend payout ratio (DPR) is presently 41.87%.

Lockheed Martin declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 23rd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Lockheed Martin Company Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business 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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