Yacktman Asset Management LP Acquires New Stake in Lockheed Martin Co. (NYSE:LMT)

Yacktman Asset Management LP bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 375,276 shares of the aerospace company’s stock, valued at approximately $138,664,000. Lockheed Martin comprises approximately 1.4% of Yacktman Asset Management LP’s investment portfolio, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Key Financial Inc bought a new stake in Lockheed Martin during the 4th quarter valued at about $26,000. Veritas Investment Partners UK Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter worth approximately $26,000. TRU Independence Asset Management 2 LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $29,000. Encompass Wealth Advisors LLC bought a new position in Lockheed Martin in the fourth quarter worth approximately $29,000. Finally, Better Money Decisions LLC purchased a new position in Lockheed Martin during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 77.00% of the company’s stock.

LMT has been the topic of a number of recent research reports. Cowen restated a “buy” rating and set a $410.00 price target on shares of Lockheed Martin in a research note on Thursday, April 22nd. Wolfe Research assumed coverage on shares of Lockheed Martin in a report on Friday, April 9th. They issued a “peer perform” rating for the company. Wells Fargo & Company began coverage on shares of Lockheed Martin in a report on Wednesday. They set an “equal weight” rating and a $384.00 price objective on the stock. Credit Suisse Group reduced their price objective on shares of Lockheed Martin from $351.00 to $334.00 in a research note on Wednesday, January 27th. Finally, Morgan Stanley increased their target price on Lockheed Martin from $445.00 to $458.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $422.80.

In other news, SVP Maryanne Lavan sold 5,406 shares of the stock in a transaction on Thursday, April 22nd. The shares were sold at an average price of $383.84, for a total value of $2,075,039.04. Also, COO John Frank A. St sold 6,855 shares of the firm’s stock in a transaction on Monday, April 26th. The stock was sold at an average price of $371.95, for a total transaction of $2,549,717.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,707 shares of company stock valued at $5,925,208. 0.17% of the stock is currently owned by insiders.

LMT opened at $390.78 on Friday. The company has a market cap of $108.61 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.33 and a debt-to-equity ratio of 2.34. The firm’s 50-day moving average price is $381.00 and its 200-day moving average price is $358.00. Lockheed Martin Co. has a 52-week low of $319.81 and a 52-week high of $417.62.

Lockheed Martin (NYSE:LMT) last released its earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share for the quarter, topping the consensus estimate of $6.32 by $0.24. Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The company had revenue of $16.26 billion for the quarter, compared to the consensus estimate of $16.42 billion. During the same quarter in the previous year, the firm earned $6.08 EPS. Lockheed Martin’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts anticipate that Lockheed Martin Co. will post 24.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Tuesday, June 1st will be paid a $2.60 dividend. The ex-dividend date of this dividend is Friday, May 28th. This represents a $10.40 dividend on an annualized basis and a yield of 2.66%. Lockheed Martin’s dividend payout ratio (DPR) is 47.38%.

Lockheed Martin 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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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