Baldwin Brothers Inc. MA cut its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 27.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235 shares of the aerospace company’s stock after selling 88 shares during the quarter. Baldwin Brothers Inc. MA’s holdings in Lockheed Martin were worth $87,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Key Financial Inc bought a new stake in Lockheed Martin during the 4th quarter worth about $26,000. Veritas Investment Partners UK Ltd. bought a new stake in Lockheed Martin during the 4th quarter worth about $26,000. TRU Independence Asset Management 2 LLC bought a new stake in Lockheed Martin during the 4th quarter worth about $29,000. Encompass Wealth Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter worth about $29,000. Finally, ForthRight Wealth Management LLC bought a new stake in Lockheed Martin during the 4th quarter worth about $35,000. 77.00% of the stock is currently owned by hedge funds and other institutional investors.
LMT has been the topic of several analyst reports. Credit Suisse Group cut their price target on shares of Lockheed Martin from $351.00 to $334.00 in a research report on Wednesday, January 27th. Morgan Stanley dropped their target price on shares of Lockheed Martin from $480.00 to $445.00 and set an “overweight” rating on the stock in a report on Monday, February 8th. Finally, Robert W. Baird cut shares of Lockheed Martin from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $420.00 to $368.00 in a report on Thursday, January 7th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Lockheed Martin has an average rating of “Buy” and an average price target of $423.00.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Monday, January 25th. The aerospace company reported $6.38 EPS for the quarter, missing the Zacks’ consensus estimate of $6.41 by ($0.03). Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The company had revenue of $17.03 billion during the quarter, compared to analyst estimates of $16.92 billion. During the same quarter last year, the company posted $5.29 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Lockheed Martin Co. will post 24.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Monday, March 1st were paid a $2.60 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $10.40 dividend on an annualized basis and a yield of 2.69%. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.38%.
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, Rotary and Mission Systems, and Space.
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