Ellevest Inc. Grows Stake in Lockheed Martin Co. (LMT)

Ellevest Inc. increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 15.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 815 shares of the aerospace company’s stock after purchasing an additional 110 shares during the period. Ellevest Inc.’s holdings in Lockheed Martin were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bremer Trust National Association purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $25,000. ERTS Wealth Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $26,000. Lake Point Wealth Management purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $26,000. Van ECK Associates Corp purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $29,000. Finally, Ellis Investment Partners LLC purchased a new stake in Lockheed Martin during the first quarter valued at approximately $29,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

LMT opened at $339.39 on Friday. The company has a market capitalization of $94.76 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 2.33 and a beta of 1.04. Lockheed Martin Co. has a 1-year low of $241.18 and a 1-year high of $351.35. 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 (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.29 by $1.70. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The firm had revenue of $14.34 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same quarter in the prior year, the business earned $4.02 earnings per share. Lockheed Martin’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts anticipate that Lockheed Martin Co. will post 20.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.59%. Lockheed Martin’s dividend payout ratio is 49.30%.

In related news, Chairman Marillyn A. Hewson sold 59,434 shares of the company’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 owns 109,531 shares in the company, valued at $33,582,204.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian P. Colan sold 4,000 shares of the company’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 transaction, the vice president now 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 90 days, insiders have sold 72,949 shares of company stock valued at $22,403,743. 0.35% of the stock is owned by company insiders.

A number of analysts have commented on LMT shares. Credit Suisse Group reaffirmed a “hold” rating and set a $297.00 target price on shares of Lockheed Martin in a report on Wednesday, January 23rd. ValuEngine upgraded shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Bank of America reiterated a “buy” rating and issued a $390.00 price target on shares of Lockheed Martin in a research report on Wednesday, January 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $313.00 price target on shares of Lockheed Martin in a research report on Tuesday, February 5th. Finally, Morgan Stanley upped their price target on shares of Lockheed Martin from $300.00 to $324.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 13th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $355.13.

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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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