Ocean Capital Management LLC grew its stake in Lockheed Martin Co. (NYSE:LMT) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,435 shares of the aerospace company’s stock after acquiring an additional 77 shares during the period. Lockheed Martin comprises 2.4% of Ocean Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Ocean Capital Management LLC’s holdings in Lockheed Martin were worth $2,832,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its position in shares of Lockheed Martin by 0.9% during the third quarter. Vanguard Group Inc now owns 21,266,343 shares of the aerospace company’s stock valued at $7,357,305,000 after buying an additional 199,456 shares during the period. Welch & Forbes LLC increased its position in shares of Lockheed Martin by 19.6% during the fourth quarter. Welch & Forbes LLC now owns 4,105 shares of the aerospace company’s stock valued at $1,075,000 after buying an additional 674 shares during the period. ClariVest Asset Management LLC increased its position in shares of Lockheed Martin by 9.6% during the fourth quarter. ClariVest Asset Management LLC now owns 501 shares of the aerospace company’s stock valued at $132,000 after buying an additional 44 shares during the period. Emerson Wealth Management LLC bought a new stake in shares of Lockheed Martin during the fourth quarter valued at about $1,520,000. Finally, Quadrant Private Wealth Management LLC increased its position in shares of Lockheed Martin by 17.3% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 1,318 shares of the aerospace company’s stock valued at $345,000 after buying an additional 194 shares during the period. 77.97% of the stock is currently owned by institutional investors and hedge funds.
LMT has been the topic of several analyst reports. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target on the stock in a research report on Thursday, April 25th. Morgan Stanley upped their price target on Lockheed Martin from $324.00 to $356.00 and gave the company an “equal weight” rating in a research report on Friday. Cowen reissued a “buy” rating and set a $360.00 price objective on shares of Lockheed Martin in a report on Wednesday, April 24th. Finally, UBS Group boosted their price objective on Lockheed Martin from $365.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Lockheed Martin presently has a consensus rating of “Buy” and an average price target of $357.13.
Shares of NYSE LMT opened at $350.14 on Monday. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $358.63. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 5.00. The stock has a market cap of $98.93 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.43 and a beta of 0.95.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.29 by $1.70. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The company had revenue of $14.34 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same quarter in the previous year, the firm earned $4.02 earnings per share. Lockheed Martin’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts anticipate that Lockheed Martin Co. will post 20.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, May 31st. Lockheed Martin’s dividend payout ratio is currently 49.30%.
In other Lockheed Martin news, Director David B. Burritt sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total value of $693,441.00. Following the completion of the sale, the director now owns 6,030 shares of the company’s stock, valued at $1,991,166.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.35% of the stock is owned by corporate 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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