Probity Advisors Inc. Takes Position in Lockheed Martin Co. (NYSE:LMT)

Probity Advisors Inc. acquired a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,954 shares of the aerospace company’s stock, valued at approximately $722,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Key Financial Inc bought a new stake in Lockheed Martin in the 4th quarter valued at approximately $26,000. Veritas Investment Partners UK Ltd. bought a new stake in Lockheed Martin in the 4th quarter valued at approximately $26,000. TRU Independence Asset Management 2 LLC bought a new stake in Lockheed Martin in the 4th quarter valued at approximately $29,000. Encompass Wealth Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter valued at approximately $29,000. Finally, ForthRight Wealth Management LLC bought a new stake in Lockheed Martin in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 77.00% of the company’s stock.

LMT stock opened at $385.31 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.12 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $107.09 billion, a PE ratio of 16.60, a PEG ratio of 1.98 and a beta of 0.92. Lockheed Martin Co. has a 1-year low of $319.81 and a 1-year high of $417.62. The business’s 50 day simple moving average is $373.18 and its 200 day simple moving average is $357.38.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share for the quarter, topping analysts’ consensus estimates of $6.32 by $0.24. The business had revenue of $16.26 billion for the quarter, compared to analyst estimates of $16.42 billion. Lockheed Martin had a return on equity of 173.43% and a net margin of 10.18%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.08 EPS. As a group, sell-side analysts predict 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 issued a dividend of $2.60 per share. This represents a $10.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, May 28th. Lockheed Martin’s payout ratio is presently 47.38%.

In other Lockheed Martin news, SVP Maryanne Lavan sold 5,406 shares of the company’s stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $383.84, for a total value of $2,075,039.04. Also, COO John Frank A. St sold 6,855 shares of the company’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $371.95, for a total value of $2,549,717.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,707 shares of company stock worth $5,925,208. Insiders own 0.17% of the company’s stock.

Several equities research analysts have commented on the company. Credit Suisse Group cut their target price on Lockheed Martin from $351.00 to $334.00 in a research note on Wednesday, January 27th. Morgan Stanley boosted their price target on Lockheed Martin from $445.00 to $458.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 27th. Cowen reaffirmed a “buy” rating and set a $410.00 price target on shares of Lockheed Martin in a research report on Thursday, April 22nd. Robert W. Baird lowered Lockheed Martin from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $420.00 to $368.00 in a research report on Thursday, January 7th. Finally, Wolfe Research initiated coverage on Lockheed Martin in a research report on Friday, April 9th. They set a “peer perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Lockheed Martin presently 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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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