Eastern Bank Has $3.48 Million Stake in Lockheed Martin Co. (LMT)

Eastern Bank lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,601 shares of the aerospace company’s stock after selling 318 shares during the period. Eastern Bank’s holdings in Lockheed Martin were worth $3,482,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Blue Fin Capital Inc. raised its holdings in Lockheed Martin by 4.8% in the 3rd quarter. Blue Fin Capital Inc. now owns 5,307 shares of the aerospace company’s stock worth $1,836,000 after purchasing an additional 241 shares during the period. Kentucky Retirement Systems acquired a new position in shares of Lockheed Martin during the third quarter valued at approximately $3,302,000. Neuberger Berman Group LLC raised its holdings in shares of Lockheed Martin by 7.4% during the third quarter. Neuberger Berman Group LLC now owns 204,116 shares of the aerospace company’s stock valued at $70,617,000 after acquiring an additional 14,151 shares during the last quarter. B. Riley Wealth Management Inc. acquired a new position in shares of Lockheed Martin during the third quarter valued at approximately $1,359,000. Finally, OmniStar Financial Group Inc. raised its holdings in shares of Lockheed Martin by 8.6% during the third quarter. OmniStar Financial Group Inc. now owns 6,558 shares of the aerospace company’s stock valued at $2,269,000 after acquiring an additional 517 shares during the last quarter. 78.31% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on LMT shares. Zacks Investment Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, January 14th. Vertical Group raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Thursday, January 10th. Citigroup reduced their target price on Lockheed Martin from $400.00 to $338.00 and set a “buy” rating for the company in a report on Monday, January 14th. Bank of America reissued a “buy” rating and set a $390.00 target price on shares of Lockheed Martin in a report on Wednesday, January 30th. Finally, Credit Suisse Group restated a “hold” rating and issued a $297.00 price target on shares of Lockheed Martin in a research report on Wednesday, January 23rd. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $350.00.

In related news, Chairman Marillyn A. Hewson sold 59,434 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $306.60, for a total value of $18,222,464.40. Following the completion of the transaction, the chairman now directly owns 109,531 shares in the company, valued at $33,582,204.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ilene S. Gordon acquired 750 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was acquired at an average price of $306.04 per share, with a total value of $229,530.00. Following the completion of the transaction, the director now directly owns 750 shares of the company’s stock, valued at approximately $229,530. The disclosure for this purchase can be found here. Insiders sold 85,186 shares of company stock valued at $26,010,927 over the last quarter. 0.35% of the stock is currently owned by company insiders.

LMT stock opened at $333.10 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.12 and a debt-to-equity ratio of 8.70. The company has a market capitalization of $88.85 billion, a PE ratio of 18.66, a P/E/G ratio of 2.33 and a beta of 1.01. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $361.99.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $1.65. The business had revenue of $14.34 billion during the quarter, compared to analyst estimates of $12.48 billion. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.02 earnings per share. Equities research analysts predict that Lockheed Martin Co. will post 19.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a $2.20 dividend. The ex-dividend date was Thursday, February 28th. This represents a $8.80 annualized dividend and a yield of 2.64%. Lockheed Martin’s payout ratio is 49.30%.

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Lockheed Martin 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 (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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