Heritage Trust Co decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 0.3% during the 1st quarter, HoldingsChannel reports. The fund owned 8,145 shares of the aerospace company’s stock after selling 28 shares during the period. Heritage Trust Co’s holdings in Lockheed Martin were worth $3,010,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in LMT. Veritas Investment Partners UK Ltd. acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $26,000. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $29,000. Encompass Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $29,000. Better Money Decisions LLC acquired a new stake in Lockheed Martin during the first quarter worth $31,000. Finally, Paradigm Strategies in Wealth Management LLC acquired a new stake in Lockheed Martin during the first quarter worth $37,000. Institutional investors and hedge funds own 75.70% of the company’s stock.
A number of brokerages have issued reports on LMT. Wells Fargo & Company began coverage on Lockheed Martin in a report on Tuesday, May 18th. They set an “equal weight” rating and a $384.00 price objective for the company. Cowen reiterated a “buy” rating and issued a $410.00 price objective on shares of Lockheed Martin in a research report on Thursday, April 22nd. Morgan Stanley boosted their price objective on Lockheed Martin from $445.00 to $458.00 and gave the company an “overweight” rating in a research report on Wednesday, April 21st. Finally, Wolfe Research initiated coverage on Lockheed Martin in a research note on Friday, April 9th. They issued a “peer perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $421.44.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share for the quarter, beating analysts’ consensus estimates of $6.32 by $0.24. Lockheed Martin had a return on equity of 134.40% and a net margin of 10.53%. The business had revenue of $16.26 billion for the quarter, compared to analysts’ expectations of $16.42 billion. During the same quarter in the prior year, the business earned $6.08 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts anticipate that Lockheed Martin Co. will post 26.74 EPS for the current 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 issued a $2.60 dividend. This represents a $10.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, May 28th. Lockheed Martin’s dividend payout ratio is 41.87%.
In other news, SVP Maryanne Lavan sold 5,406 shares of the stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $383.84, for a total transaction of $2,075,039.04. Also, CFO Kenneth R. Possenriede sold 2,787 shares of the stock in a transaction on Monday, May 24th. The stock was sold at an average price of $387.53, for a total value of $1,080,046.11. Following the sale, the chief financial officer now directly owns 1 shares in the company, valued at $387.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,494 shares of company stock worth $7,005,254. Insiders own 0.18% of the company’s stock.
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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