Brinker Capital Investments LLC increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 79.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,262 shares of the aerospace company’s stock after purchasing an additional 8,941 shares during the period. Brinker Capital Investments LLC’s holdings in Lockheed Martin were worth $7,487,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Veritas Investment Partners UK Ltd. acquired a new stake in Lockheed Martin during the fourth quarter worth about $26,000. TRU Independence Asset Management 2 LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $29,000. Encompass Wealth Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $29,000. Better Money Decisions LLC acquired a new stake in Lockheed Martin during the first quarter worth about $31,000. Finally, Paradigm Strategies in Wealth Management LLC acquired a new stake in Lockheed Martin during the first quarter worth about $37,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.
A number of brokerages have weighed in on LMT. Morgan Stanley lifted their price target on shares of Lockheed Martin from $445.00 to $458.00 and gave the company an “overweight” rating in a research report on Wednesday, April 21st. Wolfe Research began coverage on shares of Lockheed Martin in a research report on Friday, April 9th. They set a “peer perform” rating for the company. Wells Fargo & Company began coverage on shares of Lockheed Martin in a research report on Tuesday, May 18th. They set an “equal weight” rating and a $384.00 price target for the company. Finally, Cowen reiterated a “buy” rating and set a $410.00 price target on shares of Lockheed Martin in a research report on Thursday, April 22nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $421.44.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.32 by $0.24. Lockheed Martin had a net margin of 10.53% and a return on equity of 134.40%. The company had revenue of $16.26 billion during the quarter, compared to the consensus estimate of $16.42 billion. During the same quarter in the previous year, the firm earned $6.08 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts forecast that Lockheed Martin Co. will post 26.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Tuesday, June 1st will be paid a $2.60 dividend. The ex-dividend date is Friday, May 28th. This represents a $10.40 dividend on an annualized basis and a yield of 2.68%. Lockheed Martin’s dividend payout ratio is currently 41.87%.
In related news, SVP Maryanne Lavan sold 5,406 shares of Lockheed Martin stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $383.84, for a total value of $2,075,039.04. Also, CFO Kenneth R. Possenriede sold 2,787 shares of Lockheed Martin stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $387.53, for a total transaction of $1,080,046.11. Following the completion of the transaction, the chief financial officer now owns 1 shares of the company’s stock, valued at approximately $387.53. The disclosure for this sale can be found here. Insiders sold 18,494 shares of company stock valued at $7,005,254 in the last quarter. 0.18% of the stock is owned by insiders.
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, Rotary and Mission Systems, and Space.
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