Bessemer Securities LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT – Free Report) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 715 shares of the aerospace company’s stock after selling 75 shares during the quarter. Bessemer Securities LLC’s holdings in Lockheed Martin were worth $329,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. Moneta Group Investment Advisors LLC increased its stake in shares of Lockheed Martin by 81,305.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock valued at $927,896,000 after buying an additional 1,904,985 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Lockheed Martin by 197.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,495,056 shares of the aerospace company’s stock valued at $253,332,000 after buying an additional 992,835 shares in the last quarter. Bank of Montreal Can bought a new position in Lockheed Martin in the second quarter valued at about $351,143,000. Renaissance Technologies LLC boosted its holdings in Lockheed Martin by 586.8% in the first quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company’s stock valued at $163,097,000 after acquiring an additional 315,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Lockheed Martin by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,256,069 shares of the aerospace company’s stock valued at $2,320,030,000 after acquiring an additional 264,665 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Jefferies Financial Group decreased their price target on Lockheed Martin from $505.00 to $455.00 and set a “hold” rating on the stock in a report on Wednesday, October 4th. Wells Fargo & Company upgraded Lockheed Martin from an “underweight” rating to an “equal weight” rating and set a $440.00 price target on the stock in a report on Monday, September 18th. Morgan Stanley decreased their price target on Lockheed Martin from $532.00 to $510.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 18th. StockNews.com started coverage on Lockheed Martin in a report on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on Lockheed Martin in a report on Wednesday, September 27th. They set a “hold” rating and a $435.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $484.07.
Lockheed Martin Trading Down 0.2 %
NYSE:LMT opened at $443.81 on Tuesday. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $508.10. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.36 and a quick ratio of 1.16. The stock has a market capitalization of $110.11 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.90 and a beta of 0.60. The business’s 50-day simple moving average is $433.15 and its 200-day simple moving average is $445.80.
Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings data on Tuesday, October 17th. The aerospace company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.67 by $0.10. Lockheed Martin had a return on equity of 75.46% and a net margin of 10.29%. The business had revenue of $16.88 billion for the quarter, compared to analysts’ expectations of $16.73 billion. During the same quarter in the previous year, the business posted $6.87 EPS. Lockheed Martin’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts expect that Lockheed Martin Co. will post 27.19 earnings per share for the current fiscal year.
Lockheed Martin Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.00. Lockheed Martin’s dividend payout ratio (DPR) is currently 43.84%.
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, Rotary and Mission Systems, and Space.
- Five stocks we like better than Lockheed Martin
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- Safeguard your portfolio with these three bargain stocks
- The How and Why of Investing in Gold Stocks
- Membership clubs gain leverage for the consumer rebound
- How to Choose Top Rated Stocks
- Advanced Auto Parts may be worth more in pieces than the whole
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.