Probity Advisors Inc. grew its holdings in Lockheed Martin Co. (NYSE:LMT – Get Rating) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,817 shares of the aerospace company’s stock after purchasing an additional 61 shares during the period. Probity Advisors Inc.’s holdings in Lockheed Martin were worth $1,001,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Willis Investment Counsel raised its holdings in shares of Lockheed Martin by 4.5% in the third quarter. Willis Investment Counsel now owns 117,068 shares of the aerospace company’s stock valued at $40,400,000 after purchasing an additional 5,085 shares during the last quarter. Bogart Wealth LLC raised its holdings in shares of Lockheed Martin by 8.7% in the fourth quarter. Bogart Wealth LLC now owns 17,282 shares of the aerospace company’s stock valued at $6,142,000 after purchasing an additional 1,387 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services raised its holdings in shares of Lockheed Martin by 14.1% in the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 4,216 shares of the aerospace company’s stock valued at $1,498,000 after purchasing an additional 522 shares during the last quarter. Intelligence Driven Advisers LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $412,000. Finally, Donaldson Capital Management LLC increased its holdings in Lockheed Martin by 2.3% during the fourth quarter. Donaldson Capital Management LLC now owns 70,826 shares of the aerospace company’s stock worth $25,172,000 after buying an additional 1,592 shares during the last quarter. Institutional investors own 78.89% of the company’s stock.
In related news, EVP Stephanie C. Hill sold 1,418 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $449.80, for a total transaction of $637,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maryanne Lavan sold 5,832 shares of the company’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $426.27, for a total transaction of $2,486,006.64. The disclosure for this sale can be found here. In the last three months, insiders sold 17,250 shares of company stock valued at $7,464,599. 0.17% of the stock is currently owned by company insiders.
Lockheed Martin (NYSE:LMT – Get Rating) last announced its earnings results on Tuesday, April 19th. The aerospace company reported $6.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.22. The company had revenue of $14.96 billion during the quarter, compared to analysts’ expectations of $15.49 billion. Lockheed Martin had a net margin of 9.45% and a return on equity of 81.35%. Lockheed Martin’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.56 earnings per share. Equities analysts predict that Lockheed Martin Co. will post 26.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Wednesday, June 1st will be given a $2.80 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $11.20 dividend on an annualized basis and a dividend yield of 2.57%. Lockheed Martin’s payout ratio is presently 49.47%.
A number of equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of Lockheed Martin from a “peer perform” rating to an “outperform” rating and set a $467.00 target price on the stock in a report on Monday, February 28th. Seaport Res Ptn restated a “buy” rating on shares of Lockheed Martin in a report on Tuesday, April 19th. Susquehanna Bancshares boosted their target price on shares of Lockheed Martin from $515.00 to $539.00 in a report on Wednesday, April 20th. Robert W. Baird boosted their target price on shares of Lockheed Martin from $376.00 to $425.00 in a report on Wednesday, January 26th. Finally, Sanford C. Bernstein boosted their target price on shares of Lockheed Martin from $387.00 to $401.00 in a report on Wednesday, January 26th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $448.86.
Lockheed Martin Company Profile (Get Rating)
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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