Sompo Japan Nipponkoa Asset Management CO. LTD. grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 48.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,090 shares of the aerospace company’s stock after purchasing an additional 5,550 shares during the quarter. Lockheed Martin makes up 1.5% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s portfolio, making the stock its 20th largest holding. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Lockheed Martin were worth $5,793,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Capital Square LLC bought a new position in Lockheed Martin in the 4th quarter worth approximately $653,000. Pictet Asset Management Ltd. grew its holdings in Lockheed Martin by 1.0% in the 4th quarter. Pictet Asset Management Ltd. now owns 50,311 shares of the aerospace company’s stock worth $19,590,000 after buying an additional 496 shares in the last quarter. Solstein Capital LLC bought a new position in Lockheed Martin in the 4th quarter worth approximately $194,000. Bogart Wealth LLC grew its holdings in Lockheed Martin by 1.3% in the 4th quarter. Bogart Wealth LLC now owns 9,089 shares of the aerospace company’s stock worth $3,539,000 after buying an additional 119 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Lockheed Martin by 12.4% in the 4th quarter. Baird Financial Group Inc. now owns 93,919 shares of the aerospace company’s stock worth $36,574,000 after buying an additional 10,368 shares in the last quarter. 79.28% of the stock is owned by institutional investors.
LMT has been the subject of a number of recent analyst reports. Seaport Global Securities initiated coverage on Lockheed Martin in a report on Tuesday. They issued a “buy” rating and a $435.00 price objective for the company. Argus decreased their price objective on Lockheed Martin from $475.00 to $425.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. They noted that the move was a valuation call. Alembic Global Advisors lowered Lockheed Martin from an “overweight” rating to a “neutral” rating and set a $489.00 price target for the company. in a research note on Wednesday, January 29th. Credit Suisse Group decreased their price target on Lockheed Martin from $435.00 to $433.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Finally, Susquehanna Bancshares increased their price target on Lockheed Martin from $428.00 to $503.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $439.00.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 21st. The aerospace company reported $6.08 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.28. Lockheed Martin had a return on equity of 185.10% and a net margin of 10.21%. The company had revenue of $15.65 billion during the quarter, compared to the consensus estimate of $15.07 billion. During the same quarter in the prior year, the firm earned $5.99 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, analysts expect that Lockheed Martin Co. will post 24.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be given a dividend of $2.40 per share. The ex-dividend date is Friday, May 29th. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.60%. Lockheed Martin’s dividend payout ratio (DPR) is presently 43.74%.
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.
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