Sound View Wealth Advisors Group LLC lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,202 shares of the aerospace company’s stock after selling 116 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Lockheed Martin were worth $814,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Morgan Stanley increased its position in shares of Lockheed Martin by 11.6% during the fourth quarter. Morgan Stanley now owns 3,471,172 shares of the aerospace company’s stock valued at $1,232,196,000 after buying an additional 360,344 shares during the period. Bank of New York Mellon Corp raised its position in shares of Lockheed Martin by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,548,204 shares of the aerospace company’s stock worth $904,562,000 after acquiring an additional 31,066 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Lockheed Martin by 18.1% in the 4th quarter. Nuveen Asset Management LLC now owns 1,757,161 shares of the aerospace company’s stock worth $623,757,000 after purchasing an additional 269,127 shares during the period. UBS Asset Management Americas Inc. grew its position in Lockheed Martin by 219.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,592,890 shares of the aerospace company’s stock worth $565,444,000 after acquiring an additional 1,093,517 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Lockheed Martin by 2.2% in the fourth quarter. California Public Employees Retirement System now owns 1,280,669 shares of the aerospace company’s stock valued at $454,612,000 after purchasing an additional 27,703 shares during the period. 77.00% of the stock is owned by institutional investors.
In other news, COO John Frank A. St sold 6,855 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard F. Ambrose sold 3,446 shares of Lockheed Martin stock in a transaction dated Friday, April 23rd. The stock was sold at an average price of $377.38, for a total value of $1,300,451.48. The disclosure for this sale can be found here. Insiders have sold 15,707 shares of company stock valued at $5,925,208 in the last 90 days. 0.17% of the stock is currently owned by corporate insiders.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.32 by $0.24. Lockheed Martin had a return on equity of 173.43% and a net margin of 10.18%. The company had revenue of $16.26 billion during the quarter, compared to analysts’ expectations of $16.42 billion. During the same quarter last year, the firm earned $6.08 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Lockheed Martin Co. will post 24.82 EPS for the current fiscal year.
The firm 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 2.69%. Lockheed Martin’s payout ratio is currently 47.38%.
A number of equities analysts have weighed in on LMT shares. Cowen reissued a “buy” rating and issued a $410.00 price objective on shares of Lockheed Martin in a research report on Thursday, April 22nd. Credit Suisse Group decreased their target price on shares of Lockheed Martin from $351.00 to $334.00 in a research report on Wednesday, January 27th. Robert W. Baird downgraded shares of Lockheed Martin from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $420.00 to $368.00 in a research report on Thursday, January 7th. Morgan Stanley upped their target price on shares of Lockheed Martin from $445.00 to $458.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 27th. Finally, Wolfe Research started coverage on shares of Lockheed Martin in a research report on Friday, April 9th. They set a “peer perform” rating on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $427.11.
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, Rotary and Mission Systems, and Space.
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