Cypress Asset Management Inc. TX Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Cypress Asset Management Inc. TX acquired a new position in Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,344 shares of the aerospace company’s stock, valued at approximately $4,688,000. Lockheed Martin makes up about 1.4% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds have also bought and sold shares of LMT. International Assets Investment Management LLC lifted its position in shares of Lockheed Martin by 10,526.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after buying an additional 1,349,409 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after buying an additional 336,588 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Lockheed Martin by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after buying an additional 279,162 shares in the last quarter. Corient Private Wealth LLC raised its stake in Lockheed Martin by 91.8% in the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after purchasing an additional 274,680 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Lockheed Martin by 28.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 707,696 shares of the aerospace company’s stock valued at $289,419,000 after purchasing an additional 156,842 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.6 %

Shares of NYSE:LMT traded down $2.63 during midday trading on Thursday, reaching $467.08. 866,630 shares of the company’s stock were exchanged, compared to its average volume of 1,089,054. The firm’s 50 day simple moving average is $456.62 and its two-hundred day simple moving average is $447.11. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The stock has a market cap of $112.07 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 4.41 and a beta of 0.46. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The firm had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the company earned $6.43 EPS. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s payout ratio is 46.10%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LMT. UBS Group increased their price objective on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company increased their price objective on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group reduced their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $485.40.

Insider Activity at Lockheed Martin

In related news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold 16,874 shares of company stock worth $7,249,946 in the last three months. 0.17% of the stock is owned by company insiders.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.