Hillsdale Investment Management Inc. Decreases Holdings in Lockheed Martin Co. (NYSE:LMT)

Hillsdale Investment Management Inc. decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 41.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115 shares of the aerospace company’s stock after selling 80 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Lockheed Martin were worth $52,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after purchasing an additional 1,349,409 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after buying an additional 440,169 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after buying an additional 336,588 shares during the last quarter. Confluence Investment Management LLC purchased a new position in shares of Lockheed Martin in the first quarter worth about $151,402,000. Finally, Corient Private Wealth LLC boosted its position in Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after acquiring an additional 274,680 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LMT. Citigroup increased their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their target price on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $475.00 to $518.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $485.40.

Lockheed Martin Trading Down 0.1 %

Shares of NYSE LMT traded down $0.33 during mid-day trading on Monday, reaching $474.59. 881,277 shares of the company’s stock were exchanged, compared to its average volume of 1,057,697. The company’s 50-day moving average is $465.59 and its 200-day moving average is $452.22. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The firm has a market capitalization of $113.87 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 4.48 and a beta of 0.46. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $480.86.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. The company had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. Lockheed Martin’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $6.43 earnings per share. Analysts expect that Lockheed Martin Co. will post 26.1 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.