Lido Advisors LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 52.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,467 shares of the aerospace company’s stock after acquiring an additional 847 shares during the period. Lido Advisors LLC’s holdings in Lockheed Martin were worth $645,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Bremer Trust National Association purchased a new position in shares of Lockheed Martin during the 4th quarter valued at $25,000. ERTS Wealth Advisors LLC bought a new stake in Lockheed Martin during the fourth quarter valued at about $26,000. Van ECK Associates Corp bought a new stake in Lockheed Martin during the fourth quarter valued at about $29,000. Virtus ETF Advisers LLC bought a new stake in Lockheed Martin during the fourth quarter valued at about $31,000. Finally, Horan Securities Inc. boosted its holdings in Lockheed Martin by 600.0% during the fourth quarter. Horan Securities Inc. now owns 126 shares of the aerospace company’s stock valued at $35,000 after acquiring an additional 108 shares during the period. Institutional investors own 78.29% of the company’s stock.
In other news, Chairman Marillyn A. Hewson sold 59,434 shares of the stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $306.60, for a total transaction of $18,222,464.40. Following the sale, the chairman now directly owns 109,531 shares of the company’s stock, valued at $33,582,204.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ilene S. Gordon purchased 750 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were bought at an average cost of $306.04 per share, for a total transaction of $229,530.00. Following the completion of the purchase, the director now directly owns 750 shares of the company’s stock, valued at $229,530. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 85,186 shares of company stock valued at $26,010,927. Company insiders own 0.35% of the company’s stock.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $4.39. The company had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.75 billion. Lockheed Martin had a net margin of 9.39% and a return on equity of 726.78%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted ($2.25) earnings per share. On average, analysts forecast that Lockheed Martin Co. will post 19.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, February 28th. Lockheed Martin’s payout ratio is 49.30%.
A number of brokerages have recently commented on LMT. Robert W. Baird reaffirmed a “buy” rating and set a $326.00 price objective on shares of Lockheed Martin in a research report on Friday, December 21st. ValuEngine lowered shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Jefferies Financial Group reaffirmed a “hold” rating and set a $274.00 price objective on shares of Lockheed Martin in a research report on Wednesday, January 9th. Morgan Stanley lowered shares of Lockheed Martin from an “overweight” rating to an “equal weight” rating and set a $300.00 price objective for the company. in a research report on Wednesday, January 9th. Finally, Vertical Group raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Thursday, January 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $350.00.
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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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