First Manhattan Co. Trims Holdings in Lockheed Martin Co. (LMT)

First Manhattan Co. cut its stake in Lockheed Martin Co. (NYSE:LMT) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,284 shares of the aerospace company’s stock after selling 597 shares during the period. First Manhattan Co.’s holdings in Lockheed Martin were worth $2,186,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Fin Capital Inc. lifted its holdings in shares of Lockheed Martin by 4.8% during the 3rd quarter. Blue Fin Capital Inc. now owns 5,307 shares of the aerospace company’s stock worth $1,836,000 after acquiring an additional 241 shares during the period. Smith Moore & CO. bought a new position in shares of Lockheed Martin during the 3rd quarter worth about $230,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Lockheed Martin by 149.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,461 shares of the aerospace company’s stock worth $1,889,000 after acquiring an additional 3,274 shares during the period. Laurel Wealth Advisors Inc. lifted its holdings in shares of Lockheed Martin by 61.6% during the 3rd quarter. Laurel Wealth Advisors Inc. now owns 2,514 shares of the aerospace company’s stock worth $869,000 after acquiring an additional 958 shares during the period. Finally, Resources Management Corp CT ADV bought a new position in shares of Lockheed Martin during the 3rd quarter worth about $1,616,000. 78.31% of the stock is owned by hedge funds and other institutional investors.

Shares of Lockheed Martin stock opened at $310.06 on Wednesday. The stock has a market cap of $87.23 billion, a P/E ratio of 17.37, a PEG ratio of 2.28 and a beta of 1.01. The company has a quick ratio of 0.91, a current ratio of 1.12 and a debt-to-equity ratio of 8.70. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $361.99.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $4.39. The business had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.75 billion. Lockheed Martin had a net margin of 9.39% and a return on equity of 726.78%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted ($2.25) EPS. As a group, equities research analysts forecast that Lockheed Martin Co. will post 19.46 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, February 28th. Lockheed Martin’s payout ratio is presently 49.30%.

A number of equities analysts have recently commented on the stock. Susquehanna Bancshares assumed coverage on shares of Lockheed Martin in a report on Thursday, January 10th. They set a “positive” rating and a $321.00 price objective for the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $274.00 price objective on shares of Lockheed Martin in a report on Wednesday, January 9th. Morgan Stanley downgraded shares of Lockheed Martin from an “overweight” rating to an “equal weight” rating and set a $300.00 price objective for the company. in a report on Wednesday, January 9th. Robert W. Baird reaffirmed a “buy” rating and set a $326.00 price objective on shares of Lockheed Martin in a report on Friday, December 21st. Finally, Bank of America reaffirmed a “buy” rating and set a $390.00 price objective on shares of Lockheed Martin in a report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $350.00.

In related news, Director Ilene S. Gordon acquired 750 shares of the stock in a transaction on Monday, February 25th. The stock was purchased at an average price of $306.04 per share, for a total transaction of $229,530.00. Following the transaction, the director now owns 750 shares of the company’s stock, valued at approximately $229,530. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Marillyn A. Hewson sold 59,434 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $306.60, for a total transaction of $18,222,464.40. Following the completion of the sale, the chairman now owns 109,531 shares of the company’s stock, valued at approximately $33,582,204.60. The disclosure for this sale can be found here. Insiders sold a total of 85,186 shares of company stock valued at $26,010,927 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.

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Lockheed Martin Company 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 (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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