Northwest Bancshares Inc. cut its position in Lockheed Martin Co. (NYSE:LMT) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,798 shares of the aerospace company’s stock after selling 73 shares during the quarter. Northwest Bancshares Inc.’s holdings in Lockheed Martin were worth $540,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in LMT. Vanguard Group Inc lifted its stake in Lockheed Martin by 0.9% in the third quarter. Vanguard Group Inc now owns 21,266,343 shares of the aerospace company’s stock valued at $7,357,305,000 after acquiring an additional 199,456 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Lockheed Martin by 77,867.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,152,483 shares of the aerospace company’s stock worth $81,000 after buying an additional 21,125,353 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Lockheed Martin by 8.2% in the fourth quarter. BlackRock Inc. now owns 18,811,944 shares of the aerospace company’s stock worth $4,925,719,000 after buying an additional 1,426,889 shares during the last quarter. Morgan Stanley lifted its stake in shares of Lockheed Martin by 3.0% in the third quarter. Morgan Stanley now owns 3,587,085 shares of the aerospace company’s stock worth $1,240,989,000 after buying an additional 105,749 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Lockheed Martin by 25.3% in the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock worth $894,874,000 after buying an additional 691,751 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.
Several equities analysts recently commented on the stock. Bank of America reissued a “buy” rating and issued a $390.00 price target on shares of Lockheed Martin in a report on Wednesday, January 30th. Credit Suisse Group reissued a “hold” rating and issued a $297.00 price target on shares of Lockheed Martin in a report on Wednesday, January 23rd. ValuEngine lowered shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $313.00 target price on shares of Lockheed Martin in a report on Tuesday, February 5th. Finally, Morgan Stanley increased their price objective on shares of Lockheed Martin from $300.00 to $324.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 13th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Lockheed Martin has an average rating of “Buy” and a consensus price target of $355.13.
In other news, insider John Frank A. St sold 1,900 shares of Lockheed Martin stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $305.42, for a total transaction of $580,298.00. Following the completion of the sale, the insider now owns 551 shares of the company’s stock, valued at $168,286.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ilene S. Gordon bought 750 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were purchased at an average cost of $306.04 per share, with a total value of $229,530.00. Following the acquisition, the director now directly owns 750 shares of the company’s stock, valued at approximately $229,530. The disclosure for this purchase can be found here. Insiders have sold a total of 68,949 shares of company stock valued at $21,185,503 over the last ninety days. Company insiders own 0.35% of the company’s stock.
Shares of NYSE:LMT traded down $2.65 during mid-day trading on Wednesday, reaching $341.30. The stock had a trading volume of 1,023,081 shares, compared to its average volume of 1,230,707. The company has a market capitalization of $95.50 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.34 and a beta of 1.04. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.96. Lockheed Martin Co. has a twelve month low of $241.18 and a twelve month high of $351.35.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $1.70. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The business had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $12.48 billion. During the same period last year, the company posted $4.02 EPS. Lockheed Martin’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts expect that Lockheed Martin Co. will post 20.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $8.80 annualized dividend and a dividend yield of 2.58%. Lockheed Martin’s dividend payout ratio is currently 49.30%.
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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 (MFC), Rotary and Mission Systems (RMS), and Space.
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