Landsberg Bennett & Dubbaneh LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 43.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,774 shares of the aerospace company’s stock after purchasing an additional 3,866 shares during the quarter. Lockheed Martin comprises about 0.9% of Landsberg Bennett & Dubbaneh LLC’s investment portfolio, making the stock its 28th biggest position. Landsberg Bennett & Dubbaneh LLC’s holdings in Lockheed Martin were worth $3,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Blue Fin Capital Inc. grew its stake in shares of Lockheed Martin by 4.8% during the third quarter. Blue Fin Capital Inc. now owns 5,307 shares of the aerospace company’s stock valued at $1,836,000 after acquiring an additional 241 shares in the last quarter. Smith Moore & CO. acquired a new position in Lockheed Martin in the third quarter worth about $230,000. Brown Brothers Harriman & Co. grew its stake in Lockheed Martin by 149.7% in the third quarter. Brown Brothers Harriman & Co. now owns 5,461 shares of the aerospace company’s stock worth $1,889,000 after purchasing an additional 3,274 shares in the last quarter. Laurel Wealth Advisors Inc. grew its stake in Lockheed Martin by 61.6% in the third quarter. Laurel Wealth Advisors Inc. now owns 2,514 shares of the aerospace company’s stock worth $869,000 after purchasing an additional 958 shares in the last quarter. Finally, Resources Management Corp CT ADV acquired a new position in Lockheed Martin in the third quarter worth about $1,616,000. 78.31% of the stock is currently owned by institutional investors.
Shares of NYSE:LMT opened at $310.06 on Wednesday. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $361.99. The company has a market cap of $87.23 billion, a P/E ratio of 17.37, a PEG ratio of 2.28 and a beta of 1.01. The company has a current ratio of 1.12, a quick ratio of 0.91 and a debt-to-equity ratio of 8.70.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 29th. The aerospace company reported $4.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $4.39. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The firm had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $13.75 billion. During the same quarter in the previous year, the company earned ($2.25) earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin Co. will post 19.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were issued a dividend of $2.20 per share. The ex-dividend date was Thursday, February 28th. This represents a $8.80 annualized dividend and a yield of 2.84%. Lockheed Martin’s payout ratio is 49.30%.
A number of equities analysts recently commented on the company. ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Susquehanna Bancshares assumed coverage on Lockheed Martin in a research note on Thursday, January 10th. They issued a “positive” rating and a $321.00 price target for the company. Morgan Stanley reiterated an “equal weight” rating on shares of Lockheed Martin in a research note on Thursday, January 10th. Vertical Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $340.00 price target for the company in a research note on Thursday, January 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $313.00 price target on shares of Lockheed Martin in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Lockheed Martin has an average rating of “Buy” and a consensus price target of $350.00.
In related news, insider Michele A. Evans sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $298.78, for a total transaction of $2,297,618.20. Following the sale, the insider now owns 7,690 shares of the company’s stock, valued at $2,297,618.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Richard F. Ambrose sold 6,647 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $301.34, for a total value of $2,003,006.98. Following the sale, the executive vice president now directly owns 4,218 shares in the company, valued at approximately $1,271,052.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,186 shares of company stock worth $26,010,927. 0.35% of the stock is owned by corporate 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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