First Republic Investment Management Inc. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 244,821 shares of the aerospace company’s stock after acquiring an additional 20,882 shares during the period. First Republic Investment Management Inc.’s holdings in Lockheed Martin were worth $73,485,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Asset Planning Services Inc. LA ADV lifted its stake in Lockheed Martin by 1.1% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,515 shares of the aerospace company’s stock valued at $5,557,000 after acquiring an additional 200 shares during the period. Renaissance Group LLC lifted its stake in Lockheed Martin by 21.6% during the 1st quarter. Renaissance Group LLC now owns 79,766 shares of the aerospace company’s stock valued at $23,943,000 after acquiring an additional 14,168 shares during the period. Cullen Frost Bankers Inc. lifted its stake in Lockheed Martin by 3.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 11,719 shares of the aerospace company’s stock valued at $3,518,000 after acquiring an additional 404 shares during the period. Allen Capital Group LLC lifted its stake in Lockheed Martin by 3.1% during the 1st quarter. Allen Capital Group LLC now owns 4,571 shares of the aerospace company’s stock valued at $1,372,000 after acquiring an additional 136 shares during the period. Finally, Dupont Capital Management Corp acquired a new stake in Lockheed Martin during the 1st quarter valued at approximately $1,291,000. Institutional investors and hedge funds own 78.30% of the company’s stock.
Several analysts have commented on the stock. Bank of America restated a “buy” rating and set a $400.00 price objective (up from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. ValuEngine raised shares of Lockheed Martin from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Robert W. Baird lifted their target price on shares of Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. UBS Group lifted their target price on shares of Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Cowen reaffirmed a “buy” rating and set a $360.00 target price on shares of Lockheed Martin in a 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 assigned a strong buy rating to the company’s stock. Lockheed Martin currently has a consensus rating of “Buy” and an average target price of $352.31.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, topping the consensus estimate of $4.29 by $1.70. The company had revenue of $14.34 billion during the quarter, compared to analyst estimates of $12.48 billion. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.02 EPS. Analysts expect that Lockheed Martin Co. will post 20.53 earnings per share for the current fiscal year.
The business also recently declared 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 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, May 31st. Lockheed Martin’s payout ratio is presently 49.30%.
In related news, insider John Frank A. St sold 1,900 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $305.42, for a total value of $580,298.00. Following the completion of the sale, the insider now owns 551 shares of the company’s stock, valued at approximately $168,286.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brian P. Colan sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $304.56, for a total transaction of $1,218,240.00. Following the completion of the sale, the vice president now directly owns 2,489 shares of the company’s stock, valued at approximately $758,049.84. The disclosure for this sale can be found here. In the last three months, insiders sold 72,949 shares of company stock valued at $22,403,743. 0.35% of the stock is owned by insiders.
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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 (MFC), Rotary and Mission Systems (RMS), and Space.
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