State Treasurer State of Michigan grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 60.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 221,818 shares of the aerospace company’s stock after acquiring an additional 83,600 shares during the quarter. State Treasurer State of Michigan’s holdings in Lockheed Martin were worth $58,081,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in LMT. Horan Securities Inc. grew its stake in shares of Lockheed Martin by 600.0% in the fourth quarter. Horan Securities Inc. now owns 126 shares of the aerospace company’s stock worth $35,000 after acquiring an additional 108 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in shares of Lockheed Martin by 43.5% during the 4th quarter. North Star Investment Management Corp. now owns 165 shares of the aerospace company’s stock valued at $43,000 after purchasing an additional 50 shares in the last quarter. RPG Investment Advisory LLC lifted its stake in Lockheed Martin by 76.5% in the 4th quarter. RPG Investment Advisory LLC now owns 173 shares of the aerospace company’s stock valued at $45,000 after acquiring an additional 75 shares in the last quarter. NuWave Investment Management LLC lifted its stake in Lockheed Martin by 2,075.0% in the 4th quarter. NuWave Investment Management LLC now owns 174 shares of the aerospace company’s stock valued at $46,000 after acquiring an additional 166 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 85.33% of the company’s stock.
Shares of Lockheed Martin stock traded down $0.90 during trading on Monday, hitting $300.60. 252,033 shares of the stock were exchanged, compared to its average volume of 1,326,654. The firm has a market capitalization of $85.67 billion, a P/E ratio of 16.84, a P/E/G ratio of 2.24 and a beta of 1.02. 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 $363.00.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $4.39. Lockheed Martin had a net margin of 9.39% and a return on equity of 726.78%. The business had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.75 billion. During the same period in the prior year, the firm earned ($2.25) earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 19.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be paid a $2.20 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.93%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.
In other Lockheed Martin news, insider Michele A. Evans sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $298.78, for a total value of $2,297,618.20. Following the sale, the insider now owns 7,690 shares in the company, valued at approximately $2,297,618.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard F. Ambrose sold 6,647 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The stock was 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 owns 4,218 shares in the company, valued at approximately $1,271,052.12. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
Several brokerages recently weighed in on LMT. Zacks Investment Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 14th. Vertical Group upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a report on Thursday, January 10th. Citigroup decreased their target price on Lockheed Martin from $400.00 to $338.00 and set a “buy” rating for the company in a research report on Monday, January 14th. Barclays reduced their price target on Lockheed Martin from $369.00 to $325.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 4th. Finally, Morgan Stanley dropped their price target on Lockheed Martin from $386.00 to $366.00 and set an “overweight” rating for the company in a research note on Wednesday, November 14th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $348.50.
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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