Lee Financial Group Hawaii Inc. lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 5.2% in the first quarter, Holdings Channel reports. The institutional investor owned 5,559 shares of the aerospace company’s stock after selling 304 shares during the quarter. Lockheed Martin makes up approximately 1.6% of Lee Financial Group Hawaii Inc.’s portfolio, making the stock its 14th largest holding. Lee Financial Group Hawaii Inc.’s holdings in Lockheed Martin were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently made changes to their positions in the business. Moors & Cabot Inc. grew its stake in shares of Lockheed Martin by 130.6% in the 1st quarter. Moors & Cabot Inc. now owns 25,852 shares of the aerospace company’s stock valued at $7,776,000 after purchasing an additional 14,641 shares during the period. EagleClaw Capital Managment LLC grew its stake in shares of Lockheed Martin by 1.2% in the 1st quarter. EagleClaw Capital Managment LLC now owns 4,561 shares of the aerospace company’s stock valued at $1,376,000 after purchasing an additional 55 shares during the period. Aviance Capital Partners LLC grew its stake in shares of Lockheed Martin by 2.6% in the 1st quarter. Aviance Capital Partners LLC now owns 7,614 shares of the aerospace company’s stock valued at $2,285,000 after purchasing an additional 192 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in shares of Lockheed Martin by 225.3% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 4,043 shares of the aerospace company’s stock valued at $1,214,000 after purchasing an additional 2,800 shares during the period. Finally, Alps Advisors Inc. bought a new stake in shares of Lockheed Martin in the 1st quarter valued at approximately $481,000. 78.10% of the stock is owned by institutional investors.
NYSE:LMT opened at $336.17 on Thursday. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $351.35. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.96 and a current ratio of 1.17. The firm has a market cap of $94.76 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.33 and a beta of 1.04.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $1.70. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The firm had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $12.48 billion. During the same quarter in the prior year, the business earned $4.02 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, analysts expect that Lockheed Martin Co. will post 20.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, May 31st. Lockheed Martin’s dividend payout ratio is 49.30%.
A number of research firms recently commented on LMT. Cowen restated a “buy” rating and set a $360.00 price target on shares of Lockheed Martin in a research report on Wednesday, April 24th. ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target on the stock in a research report on Thursday, April 25th. UBS Group increased their price target on Lockheed Martin from $365.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird increased their price target on Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $352.31.
In other news, VP Brian P. Colan sold 4,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $304.56, for a total value of $1,218,240.00. Following the transaction, the vice president now owns 2,489 shares of the company’s stock, valued at approximately $758,049.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ilene S. Gordon purchased 750 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was bought at an average cost of $306.04 per share, for a total transaction of $229,530.00. Following the purchase, the director now owns 750 shares in the company, valued at $229,530. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 72,949 shares of company stock worth $22,403,743. Company insiders own 0.35% of the company’s stock.
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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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