Hudson Valley Investment Advisors Inc. ADV Sells 775 Shares of Lockheed Martin Co. (LMT)

Hudson Valley Investment Advisors Inc. ADV cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 16.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,024 shares of the aerospace company’s stock after selling 775 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Lockheed Martin were worth $1,208,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Lockheed Martin by 77,867.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,152,483 shares of the aerospace company’s stock worth $81,000 after purchasing an additional 21,125,353 shares during the period. BlackRock Inc. lifted its stake in shares of Lockheed Martin by 8.2% in the 4th quarter. BlackRock Inc. now owns 18,811,944 shares of the aerospace company’s stock worth $4,925,719,000 after purchasing an additional 1,426,889 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lockheed Martin by 25.3% in the 4th quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock worth $894,874,000 after purchasing an additional 691,751 shares during the period. California Public Employees Retirement System lifted its stake in shares of Lockheed Martin by 40.6% in the 4th quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock worth $339,041,000 after purchasing an additional 373,997 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Lockheed Martin by 47.7% in the 4th quarter. Bank of Montreal Can now owns 968,019 shares of the aerospace company’s stock worth $253,466,000 after purchasing an additional 312,488 shares during the period. 78.59% of the stock is currently owned by institutional investors.

LMT traded up $1.52 during trading on Friday, reaching $334.07. 806,671 shares of the company traded hands, compared to its average volume of 1,236,904. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.96. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $351.35. The firm has a market cap of $94.18 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 2.31 and a beta of 1.04.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $1.70. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The business had revenue of $14.34 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same period last year, the firm posted $4.02 EPS. The company’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 20.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, May 31st. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.

Several equities analysts have recently weighed in on LMT shares. Bank of America reiterated a “buy” rating and issued a $390.00 price objective on shares of Lockheed Martin in a research note on Wednesday, January 30th. Vertical Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a research note on Thursday, January 10th. Vertical Group upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, January 10th. Citigroup decreased their target price on shares of Lockheed Martin from $400.00 to $338.00 and set a “buy” rating on the stock in a research note on Monday, January 14th. Finally, Cowen restated a “buy” rating and set a $360.00 target price on shares of Lockheed Martin in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $352.31.

In related news, Director David B. Burritt sold 2,100 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $330.21, for a total value of $693,441.00. Following the completion of the transaction, the director now directly owns 6,030 shares of the company’s stock, valued at $1,991,166.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Marillyn A. Hewson sold 59,434 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 109,531 shares of the company’s stock, valued at $33,582,204.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,286 shares of company stock valued at $26,704,368. 0.35% of the stock is currently owned by insiders.

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

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