Lockheed Martin Co. (LMT) Position Trimmed by First Manhattan Co.

First Manhattan Co. decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.6% during the 1st quarter, Holdings Channel reports. The fund owned 7,284 shares of the aerospace company’s stock after selling 597 shares during the quarter. First Manhattan Co.’s holdings in Lockheed Martin were worth $2,186,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LMT. Blue Fin Capital Inc. boosted its stake in 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 last quarter. Smith Moore & CO. bought a new position in Lockheed Martin during the 3rd quarter worth approximately $230,000. Brown Brothers Harriman & Co. boosted its stake in 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 last quarter. Laurel Wealth Advisors Inc. boosted its stake in 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 last quarter. Finally, Resources Management Corp CT ADV bought a new position in Lockheed Martin during the 3rd quarter worth approximately $1,616,000. 78.31% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on LMT shares. Robert W. Baird reaffirmed a “buy” rating and issued a $326.00 price target on shares of Lockheed Martin in a research note on Friday, December 21st. ValuEngine lowered shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $274.00 price target on shares of Lockheed Martin in a research note on Wednesday, January 9th. Morgan Stanley lowered shares of Lockheed Martin from an “overweight” rating to an “equal weight” rating and set a $300.00 price target on the stock. in a research note on Wednesday, January 9th. Finally, Vertical Group raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $350.00.

In other news, EVP Richard F. Ambrose sold 6,647 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $301.34, for a total value of $2,003,006.98. Following the sale, the executive vice president now directly owns 4,218 shares in the company, valued at $1,271,052.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marillyn A. Hewson sold 59,434 shares of the business’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 owns 109,531 shares in the company, valued at $33,582,204.60. The disclosure for this sale can be found here. Insiders sold 85,186 shares of company stock worth $26,010,927 over the last quarter. 0.35% of the stock is owned by corporate insiders.

NYSE LMT opened at $310.06 on Wednesday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.91 and a current ratio of 1.12. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $361.99. The company has a market capitalization of $87.23 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $4.39. Lockheed Martin had a net margin of 9.39% and a return on equity of 726.78%. The company had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $13.75 billion. During the same period last year, the company earned ($2.25) earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Co. will post 19.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a $2.20 dividend. The ex-dividend date was Thursday, February 28th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.84%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.

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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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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