Capital Research Global Investors trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,842,102 shares of the aerospace company’s stock after selling 157,945 shares during the period. Capital Research Global Investors owned about 2.07% of Lockheed Martin worth $2,274,798,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Waratah Capital Advisors Ltd. purchased a new position in Lockheed Martin during the third quarter valued at approximately $545,000. Colony Group LLC grew its position in shares of Lockheed Martin by 60.4% during the 3rd quarter. Colony Group LLC now owns 7,211 shares of the aerospace company’s stock worth $2,813,000 after buying an additional 2,715 shares during the period. Voya Investment Management LLC raised its holdings in shares of Lockheed Martin by 38.5% in the third quarter. Voya Investment Management LLC now owns 356,910 shares of the aerospace company’s stock valued at $139,217,000 after purchasing an additional 99,298 shares during the last quarter. Redpoint Investment Management Pty Ltd lifted its stake in Lockheed Martin by 5.2% in the third quarter. Redpoint Investment Management Pty Ltd now owns 19,019 shares of the aerospace company’s stock valued at $7,419,000 after purchasing an additional 936 shares during the last quarter. Finally, Merit Financial Group LLC lifted its stake in shares of Lockheed Martin by 8.1% during the 3rd quarter. Merit Financial Group LLC now owns 683 shares of the aerospace company’s stock valued at $266,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
A number of brokerages recently issued reports on LMT. Cowen reiterated a “buy” rating and issued a $454.00 price objective on shares of Lockheed Martin in a research report on Monday, March 16th. UBS Group lifted their price target on shares of Lockheed Martin from $440.00 to $470.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. DZ Bank upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $360.00 price target for the company in a research report on Wednesday. Morgan Stanley lowered their target price on Lockheed Martin from $440.00 to $385.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Alembic Global Advisors cut Lockheed Martin from an “overweight” rating to a “neutral” rating and set a $489.00 price objective for the company. in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $433.88.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $0.26. Lockheed Martin had a return on equity of 198.95% and a net margin of 10.42%. The firm had revenue of $15.88 billion for the quarter, compared to analysts’ expectations of $15.28 billion. During the same period in the prior year, the business posted $4.39 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts expect that Lockheed Martin Co. will post 24.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be issued a dividend of $2.40 per share. The ex-dividend date is Friday, February 28th. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.77%. Lockheed Martin’s dividend payout ratio is 43.74%.
In other Lockheed Martin news, CEO Marillyn A. Hewson sold 22,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $436.12, for a total transaction of $9,594,640.00. Following the sale, the chief executive officer now directly owns 55,554 shares of the company’s stock, valued at $24,228,210.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michele A. Evans sold 9,629 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $432.22, for a total value of $4,161,846.38. Following the completion of the transaction, the executive vice president now directly owns 9,629 shares in the company, valued at $4,161,846.38. The disclosure for this sale can be found here. Insiders have sold 39,793 shares of company stock worth $17,313,473 over the last ninety days. Insiders own 0.17% of the company’s stock.
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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