Fairfield Bush & CO. Grows Stake in Lockheed Martin Co. (LMT)
Fairfield Bush & CO. raised its position in Lockheed Martin Co. (NYSE:LMT) by 34.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,480 shares of the aerospace company’s stock after purchasing an additional 1,150 shares during the quarter. Fairfield Bush & CO.’s holdings in Lockheed Martin were worth $1,438,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC raised its holdings in shares of Lockheed Martin by 2.4% in the 4th quarter. KCM Investment Advisors LLC now owns 18,912 shares of the aerospace company’s stock worth $6,072,000 after purchasing an additional 445 shares during the period. Buckingham Capital Management Inc. purchased a new position in shares of Lockheed Martin in the 3rd quarter worth about $208,000. Finally, D.B. Root & Company LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $971,000. Institutional investors own 78.30% of the company’s stock.
In related news, Chairman Marillyn A. Hewson sold 19,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $346.74, for a total transaction of $6,588,060.00. Following the sale, the chairman now directly owns 80,478 shares in the company, valued at approximately $27,904,941.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Richard F. Ambrose sold 7,517 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $357.89, for a total value of $2,690,259.13. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Monday, January 29th. The aerospace company reported $4.30 EPS for the quarter, beating the consensus estimate of $4.06 by $0.24. The business had revenue of $15.14 billion for the quarter, compared to the consensus estimate of $14.72 billion. Lockheed Martin had a return on equity of 354.55% and a net margin of 3.92%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted $3.25 EPS. research analysts predict that Lockheed Martin Co. will post 15.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Thursday, March 1st will be issued a dividend of $2.00 per share. The ex-dividend date is Wednesday, February 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.45%. Lockheed Martin’s payout ratio is currently 117.13%.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Morgan Stanley restated an “overweight” rating and issued a $388.00 price objective (up from $382.00) on shares of Lockheed Martin in a report on Friday, February 23rd. Argus raised their price objective on Lockheed Martin from $340.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Buckingham Research raised their price objective on Lockheed Martin from $348.00 to $403.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, ValuEngine upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $375.40.
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About Lockheed Martin
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
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