Narwhal Capital Management boosted its position in Lockheed Martin Co. (NYSE:LMT) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,592 shares of the aerospace company’s stock after buying an additional 328 shares during the quarter. Narwhal Capital Management’s holdings in Lockheed Martin were worth $4,080,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. CAPROCK Group Inc. grew its position in shares of Lockheed Martin by 26.2% during the 1st quarter. CAPROCK Group Inc. now owns 2,792 shares of the aerospace company’s stock valued at $838,000 after buying an additional 579 shares during the last quarter. Sabal Trust CO grew its position in shares of Lockheed Martin by 1,036.2% during the 1st quarter. Sabal Trust CO now owns 54,128 shares of the aerospace company’s stock valued at $16,247,000 after buying an additional 49,364 shares during the last quarter. Comprehensive Portfolio Management LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $316,000. Nikulski Financial Inc. grew its position in shares of Lockheed Martin by 15.5% during the 1st quarter. Nikulski Financial Inc. now owns 975 shares of the aerospace company’s stock valued at $293,000 after buying an additional 131 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $2,370,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.
LMT has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $313.00 price objective on shares of Lockheed Martin in a research report on Tuesday, February 5th. Citigroup lowered their price objective on shares of Lockheed Martin from $400.00 to $338.00 and set a “buy” rating for the company in a research report on Monday, January 14th. Vertical Group raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Thursday, January 10th. ValuEngine cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Finally, Vertical Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $340.00 target price for the company in a research report on Thursday, January 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Lockheed Martin has a consensus rating of “Buy” and an average price target of $350.00.
Shares of NYSE:LMT opened at $310.06 on Wednesday. The company has a market capitalization of $87.23 billion, a PE ratio of 17.37, a P/E/G ratio of 2.28 and a beta of 1.01. Lockheed Martin Co. has a twelve month low of $241.18 and a twelve month high of $361.99. The company has a quick ratio of 0.91, a current ratio of 1.12 and a debt-to-equity ratio of 8.70.
Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 29th. The aerospace company reported $4.39 EPS for the quarter, meeting the consensus estimate of $4.39. Lockheed Martin had a net margin of 9.39% and a return on equity of 726.78%. The business had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.75 billion. During the same period in the prior year, the business earned ($2.25) earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that Lockheed Martin Co. will post 19.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, February 28th. Lockheed Martin’s dividend payout ratio is presently 49.30%.
In related news, Chairman Marillyn A. Hewson sold 59,434 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $306.60, for a total value of $18,222,464.40. Following the completion of the sale, the chairman now owns 109,531 shares in the company, valued at approximately $33,582,204.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michele A. Evans sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $298.78, for a total transaction of $2,297,618.20. Following the completion of the sale, the insider now owns 7,690 shares of the company’s stock, valued at approximately $2,297,618.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,186 shares of company stock valued at $26,010,927. Company insiders own 0.35% of the company’s stock.
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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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