Sandy Spring Bank Raises Position in Lockheed Martin Co. (NYSE:LMT)

Sandy Spring Bank grew its position in Lockheed Martin Co. (NYSE:LMT) by 32.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 5,703 shares of the aerospace company’s stock after purchasing an additional 1,412 shares during the quarter. Sandy Spring Bank’s holdings in Lockheed Martin were worth $2,107,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. UBS Asset Management Americas Inc. grew its position in Lockheed Martin by 219.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,592,890 shares of the aerospace company’s stock valued at $565,444,000 after buying an additional 1,093,517 shares during the period. Renaissance Technologies LLC grew its position in Lockheed Martin by 754.4% during the fourth quarter. Renaissance Technologies LLC now owns 516,900 shares of the aerospace company’s stock valued at $183,489,000 after buying an additional 456,400 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth approximately $156,453,000. Morgan Stanley boosted its position in shares of Lockheed Martin by 11.6% in the fourth quarter. Morgan Stanley now owns 3,471,172 shares of the aerospace company’s stock worth $1,232,196,000 after purchasing an additional 360,344 shares during the period. Finally, Capital Wealth Planning LLC bought a new position in shares of Lockheed Martin in the first quarter worth approximately $120,527,000. Hedge funds and other institutional investors own 77.00% of the company’s stock.

Lockheed Martin stock opened at $387.82 on Wednesday. The company has a market cap of $107.79 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.98 and a beta of 0.92. The firm’s fifty day moving average is $379.22 and its 200 day moving average is $357.81. The company has a quick ratio of 1.12, a current ratio of 1.33 and a debt-to-equity ratio of 2.34. 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 quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.32 by $0.24. The company had revenue of $16.26 billion for the quarter, compared to the consensus estimate of $16.42 billion. Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. Lockheed Martin’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.08 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Co. will post 24.82 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Tuesday, June 1st will be given a dividend of $2.60 per share. This represents a $10.40 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, May 28th. Lockheed Martin’s dividend payout ratio (DPR) is 47.38%.

In other news, EVP Richard F. Ambrose sold 3,446 shares of the company’s stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $377.38, for a total value of $1,300,451.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maryanne Lavan sold 5,406 shares of the company’s stock in a transaction dated Thursday, April 22nd. The stock was sold at an average price of $383.84, for a total transaction of $2,075,039.04. Insiders have sold 15,707 shares of company stock worth $5,925,208 in the last quarter. Company insiders own 0.17% of the company’s stock.

A number of research firms have weighed in on LMT. Cowen reiterated a “buy” rating and issued a $410.00 price target on shares of Lockheed Martin in a research report on Thursday, April 22nd. Wolfe Research began coverage on shares of Lockheed Martin in a research report on Friday, April 9th. They issued a “peer perform” rating for the company. Credit Suisse Group dropped their price target on shares of Lockheed Martin from $351.00 to $334.00 in a research report on Wednesday, January 27th. Finally, Morgan Stanley boosted their target price on shares of Lockheed Martin from $445.00 to $458.00 and gave the stock an “overweight” rating in a report on Tuesday, April 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $427.11.

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, Rotary and Mission Systems, and Space.

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

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