Quadrant Capital Group LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 9.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 776 shares of the aerospace company’s stock after selling 77 shares during the period. Quadrant Capital Group LLC’s holdings in Lockheed Martin were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. PFG Advisors acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $886,000. California Public Employees Retirement System lifted its holdings in Lockheed Martin by 40.6% in the fourth quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock valued at $339,041,000 after acquiring an additional 373,997 shares during the last quarter. Schulhoff & Co. Inc. lifted its holdings in Lockheed Martin by 1.6% in the fourth quarter. Schulhoff & Co. Inc. now owns 13,088 shares of the aerospace company’s stock valued at $3,427,000 after acquiring an additional 205 shares during the last quarter. EFG Asset Management Americas Corp. lifted its holdings in Lockheed Martin by 70.7% in the first quarter. EFG Asset Management Americas Corp. now owns 3,059 shares of the aerospace company’s stock valued at $918,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Eastern Bank lifted its holdings in Lockheed Martin by 0.6% in the fourth quarter. Eastern Bank now owns 11,919 shares of the aerospace company’s stock valued at $3,120,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price objective on the stock in a report on Thursday, April 25th. UBS Group upped their price objective on Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird upped their price objective on Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Bank of America reiterated a “buy” rating and issued a $400.00 price objective (up from $390.00) on shares of Lockheed Martin in a report on Wednesday, April 24th. Finally, Cowen reiterated a “buy” rating and issued a $360.00 price objective on shares of Lockheed Martin in a report on Wednesday, April 24th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $352.31.
NYSE:LMT opened at $335.72 on Tuesday. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.96 and a current ratio of 1.17. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $351.35. The firm has a market cap of $94.39 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.32 and a beta of 1.04.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $1.70. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The company had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $12.48 billion. During the same period in the prior year, the firm earned $4.02 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin Co. will post 20.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, May 31st. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.
In other Lockheed Martin news, Chairman Marillyn A. Hewson sold 59,434 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $306.60, for a total transaction of $18,222,464.40. Following the transaction, the chairman now directly owns 109,531 shares in the company, valued at $33,582,204.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David B. Burritt sold 2,100 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total value of $693,441.00. Following the transaction, the director now owns 6,030 shares in the company, valued at $1,991,166.30. The disclosure for this sale can be found here. Insiders have sold 87,286 shares of company stock worth $26,704,368 over the last 90 days. 0.35% of the stock is owned by insiders.
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About Lockheed Martin
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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