First Foundation Advisors decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,952 shares of the aerospace company’s stock after selling 174 shares during the period. First Foundation Advisors’ holdings in Lockheed Martin were worth $675,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of LMT. Charles Schwab Investment Advisory Inc. purchased a new stake in Lockheed Martin during the second quarter valued at approximately $240,085,000. American Century Companies Inc. lifted its position in Lockheed Martin by 121.4% during the second quarter. American Century Companies Inc. now owns 1,275,669 shares of the aerospace company’s stock valued at $376,871,000 after acquiring an additional 699,579 shares during the last quarter. FMR LLC lifted its position in Lockheed Martin by 13.7% during the third quarter. FMR LLC now owns 2,656,966 shares of the aerospace company’s stock valued at $919,205,000 after acquiring an additional 319,488 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in Lockheed Martin by 768.9% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 267,942 shares of the aerospace company’s stock valued at $92,697,000 after acquiring an additional 237,106 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV lifted its position in Lockheed Martin by 25,999.4% during the second quarter. Mainstay Capital Management LLC ADV now owns 223,150 shares of the aerospace company’s stock valued at $785,000 after acquiring an additional 222,295 shares during the last quarter. 77.97% of the stock is owned by institutional investors.
A number of research firms recently commented on LMT. Zacks Investment Research cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. UBS Group initiated coverage on shares of Lockheed Martin in a research report on Wednesday, August 15th. They set a “buy” rating and a $400.00 target price for the company. Credit Suisse Group raised their price target on shares of Lockheed Martin from $340.00 to $368.00 and gave the stock a “neutral” rating in a report on Wednesday, October 3rd. Finally, Morgan Stanley set a $386.00 price target on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Thursday, October 11th. Nine research 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. Lockheed Martin has a consensus rating of “Buy” and an average price target of $375.44.
NYSE LMT opened at $300.43 on Friday. The firm has a market capitalization of $85.45 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 2.83 and a beta of 0.89. Lockheed Martin Co. has a 12-month low of $283.21 and a 12-month high of $363.00. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.31 by $0.83. The business had revenue of $14.32 billion during the quarter, compared to analysts’ expectations of $13.10 billion. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $3.24 earnings per share. As a group, equities analysts anticipate that Lockheed Martin Co. will post 17.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be paid a $2.20 dividend. The ex-dividend date is Friday, November 30th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.93%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio is presently 60.02%.
Lockheed Martin announced that its board has authorized a share buyback program on Thursday, September 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: “First Foundation Advisors Has $675,000 Position in Lockheed Martin Co. (LMT)” was originally reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.com-unik.info/2018/12/02/first-foundation-advisors-has-675000-position-in-lockheed-martin-co-lmt.html.
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 (MFC), Rotary and Mission Systems (RMS), and Space.
Featured Story: Why is insider trading harmful?
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.