Bank Julius Baer & Co. Ltd Zurich cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 56.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149 shares of the aerospace company’s stock after selling 197 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Lockheed Martin were worth $53,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Veritas Investment Partners UK Ltd. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $26,000. Key Financial Inc acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $26,000. ForthRight Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $35,000. Charter Oak Capital Management LLC bought a new position in Lockheed Martin during the fourth quarter worth about $42,000. Finally, TD Ameritrade Investment Management LLC bought a new position in Lockheed Martin during the fourth quarter worth about $43,000. 77.00% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on LMT. Credit Suisse Group decreased their price objective on Lockheed Martin from $351.00 to $334.00 in a research report on Wednesday, January 27th. Morgan Stanley lowered their target price on Lockheed Martin from $480.00 to $445.00 and set an “overweight” rating for the company in a research note on Monday, February 8th. Finally, Robert W. Baird cut Lockheed Martin from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $420.00 to $368.00 in a research note on Thursday, January 7th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $423.00.
Shares of LMT opened at $380.19 on Thursday. The stock has a market capitalization of $106.49 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.98 and a beta of 0.92. Lockheed Martin Co. has a twelve month low of $319.81 and a twelve month high of $417.62. The company has a 50 day moving average of $349.60 and a 200-day moving average of $357.59. The company has a quick ratio of 1.12, a current ratio of 1.33 and a debt-to-equity ratio of 2.34.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Monday, January 25th. The aerospace company reported $6.38 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.03). The business had revenue of $17.03 billion for the quarter, compared to the consensus estimate of $16.92 billion. Lockheed Martin had a return on equity of 173.43% and a net margin of 10.18%. Lockheed Martin’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $5.29 earnings per share. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 24.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Monday, March 1st were issued a $2.60 dividend. This represents a $10.40 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, February 26th. Lockheed Martin’s payout ratio is presently 47.38%.
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, Rotary and Mission Systems, and Space.
Featured Article: How to interpret the current ratio
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.