Lockheed Martin Co. (LMT) Position Trimmed by MetLife Investment Advisors LLC
MetLife Investment Advisors LLC lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,768 shares of the aerospace company’s stock after selling 1,308 shares during the period. MetLife Investment Advisors LLC’s holdings in Lockheed Martin were worth $18,530,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Man Group plc boosted its position in Lockheed Martin by 63.0% during the third quarter. Man Group plc now owns 70,260 shares of the aerospace company’s stock worth $24,307,000 after purchasing an additional 27,160 shares in the last quarter. California Public Employees Retirement System boosted its position in Lockheed Martin by 40.6% during the fourth quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock worth $339,041,000 after purchasing an additional 373,997 shares in the last quarter. Schulhoff & Co. Inc. boosted its position in Lockheed Martin by 1.6% during the fourth quarter. Schulhoff & Co. Inc. now owns 13,088 shares of the aerospace company’s stock worth $3,427,000 after purchasing an additional 205 shares in the last quarter. Eastern Bank boosted its position in Lockheed Martin by 0.6% during the fourth quarter. Eastern Bank now owns 11,919 shares of the aerospace company’s stock worth $3,120,000 after purchasing an additional 74 shares in the last quarter. Finally, Union Bankshares Corp boosted its position in Lockheed Martin by 1.7% during the fourth quarter. Union Bankshares Corp now owns 8,108 shares of the aerospace company’s stock worth $2,123,000 after purchasing an additional 135 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.
Lockheed Martin stock opened at $293.95 on Thursday. The firm has a market capitalization of $83.33 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $361.99. The company has a quick ratio of 0.91, a current ratio of 1.12 and a debt-to-equity ratio of 8.70.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be paid a dividend of $2.20 per share. The ex-dividend date is Thursday, February 28th. This represents a $8.80 annualized dividend and a yield of 2.99%. Lockheed Martin’s dividend payout ratio is presently 49.30%.
In other news, VP Brian P. Colan sold 4,000 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $304.56, for a total value of $1,218,240.00. Following the completion of the sale, the vice president now owns 2,489 shares in the company, valued at $758,049.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michele A. Evans sold 7,690 shares of the stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $298.78, for a total value of $2,297,618.20. Following the completion of the sale, the insider now owns 7,690 shares of the company’s stock, valued at approximately $2,297,618.20. The disclosure for this sale can be found here. Insiders have sold 85,186 shares of company stock valued at $26,010,927 over the last 90 days. 0.35% of the stock is currently owned by insiders.
A number of analysts have commented on the company. ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Susquehanna Bancshares assumed coverage on Lockheed Martin in a research report on Thursday, January 10th. They issued a “positive” rating and a $321.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating on shares of Lockheed Martin in a research report on Thursday, January 10th. Vertical Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a research report on Thursday, January 10th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $313.00 price objective on shares of Lockheed Martin in a research report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $350.00.
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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 (MFC), Rotary and Mission Systems (RMS), and Space.
Further Reading: Beta
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