USA Mutuals Advisors Inc. cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the aerospace company’s stock after selling 1,100 shares during the period. Lockheed Martin comprises 5.3% of USA Mutuals Advisors Inc.’s portfolio, making the stock its 12th biggest position. USA Mutuals Advisors Inc.’s holdings in Lockheed Martin were worth $6,003,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bremer Trust National Association bought a new stake in Lockheed Martin during the 4th quarter valued at $25,000. ERTS Wealth Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter valued at $26,000. Lake Point Wealth Management bought a new stake in Lockheed Martin during the 4th quarter valued at $26,000. Van ECK Associates Corp bought a new stake in Lockheed Martin during the 4th quarter valued at $29,000. Finally, Virtus ETF Advisers LLC bought a new stake in Lockheed Martin during the 4th quarter valued at $31,000. 78.29% of the stock is owned by institutional investors and hedge funds.
Lockheed Martin stock opened at $309.70 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.91 and a debt-to-equity ratio of 8.70. The stock has a market cap of $87.51 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.26 and a beta of 1.01. Lockheed Martin Co. has a fifty-two week low of $241.18 and a fifty-two week high of $361.99.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $4.39. The business had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $13.75 billion. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.25) EPS. On average, research analysts forecast that Lockheed Martin Co. will post 19.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a dividend of $2.20 per share. The ex-dividend date was Thursday, February 28th. This represents a $8.80 annualized dividend and a yield of 2.84%. Lockheed Martin’s payout ratio is presently 49.30%.
LMT has been the subject of a number of research analyst reports. Bank of America reaffirmed a “buy” rating and set a $390.00 target price on shares of Lockheed Martin in a research report on Wednesday, January 30th. Vertical Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $340.00 price target for the company in a research report on Thursday, January 10th. Vertical Group raised Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Thursday, January 10th. Citigroup reduced their price target on Lockheed Martin from $400.00 to $338.00 and set a “buy” rating for the company in a research report on Monday, January 14th. Finally, Robert W. Baird reissued a “buy” rating and issued a $326.00 price target on shares of Lockheed Martin in a research report on Friday, December 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lockheed Martin presently has a consensus rating of “Buy” and a consensus price target of $350.00.
In other Lockheed Martin news, EVP Richard F. Ambrose sold 6,647 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $301.34, for a total transaction of $2,003,006.98. Following the sale, the executive vice president now owns 4,218 shares in the company, valued at approximately $1,271,052.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Marillyn A. Hewson sold 59,434 shares of the business’s stock in a transaction dated 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 sale, the chairman now owns 109,531 shares in the company, valued at approximately $33,582,204.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,186 shares of company stock worth $26,010,927. Company insiders own 0.35% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Lockheed Martin Co. (LMT) Shares Sold by USA Mutuals Advisors Inc.” was posted by Macon Daily and is owned by of Macon Daily. If you are viewing this report on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The original version of this report can be accessed at https://macondaily.com/2019/04/15/lockheed-martin-co-lmt-shares-sold-by-usa-mutuals-advisors-inc.html.
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 (MFC), Rotary and Mission Systems (RMS), and Space.
Recommended Story: Consumer Price Index (CPI)
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.