Pillar Pacific Capital Management LLC raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 64.2% in the 1st quarter, Holdings Channel reports. The fund owned 1,317 shares of the aerospace company’s stock after acquiring an additional 515 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Lockheed Martin were worth $395,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. PFG Advisors purchased a new stake in Lockheed Martin during the 4th quarter worth $886,000. California Public Employees Retirement System boosted its position in Lockheed Martin by 40.6% during the 4th quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock worth $339,041,000 after purchasing an additional 373,997 shares during the period. Schulhoff & Co. Inc. boosted its position in Lockheed Martin by 1.6% during the 4th quarter. Schulhoff & Co. Inc. now owns 13,088 shares of the aerospace company’s stock worth $3,427,000 after purchasing an additional 205 shares during the period. EFG Asset Management Americas Corp. boosted its position in Lockheed Martin by 70.7% during the 1st quarter. EFG Asset Management Americas Corp. now owns 3,059 shares of the aerospace company’s stock worth $918,000 after purchasing an additional 1,267 shares during the period. Finally, Eastern Bank lifted its holdings in Lockheed Martin by 0.6% in the 4th quarter. Eastern Bank now owns 11,919 shares of the aerospace company’s stock worth $3,120,000 after buying an additional 74 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.
A number of brokerages have recently issued reports on LMT. Barclays upped their target price on shares of Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price on the stock in a research note on Thursday, April 25th. UBS Group upped their target price on shares of Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird upped their target price on shares of Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Bank of America restated a “buy” rating and issued a $400.00 target price (up previously from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Lockheed Martin currently has a consensus rating of “Buy” and a consensus target price of $355.13.
In other Lockheed Martin news, Director Ilene S. Gordon acquired 750 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were purchased at an average price of $306.04 per share, for a total transaction of $229,530.00. Following the completion of the purchase, the director now directly owns 750 shares in the company, valued at $229,530. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Marillyn A. Hewson sold 59,434 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $306.60, for a total transaction 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 72,949 shares of company stock worth $22,403,743. 0.35% of the stock is owned by company insiders.
LMT opened at $337.99 on Monday. The stock has a market cap of $95.50 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 2.34 and a beta of 1.04. Lockheed Martin Co. has a fifty-two week low of $241.18 and a fifty-two week high of $351.35. The company has a current ratio of 1.17, a quick ratio of 0.96 and a debt-to-equity ratio of 5.00.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share for the quarter, topping the consensus estimate of $4.29 by $1.70. The firm had revenue of $14.34 billion for the quarter, compared to analyst estimates of $12.48 billion. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. Lockheed Martin’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.02 earnings per share. Sell-side analysts predict that Lockheed Martin Co. will post 20.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $8.80 annualized dividend and a yield of 2.60%. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.
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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 (MFC), Rotary and Mission Systems (RMS), and Space.
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