Crestwood Advisors Group LLC raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.3% during the 1st quarter, Holdings Channel reports. The firm owned 92,900 shares of the aerospace company’s stock after acquiring an additional 4,716 shares during the quarter. Lockheed Martin comprises approximately 2.0% of Crestwood Advisors Group LLC’s holdings, making the stock its 17th biggest position. Crestwood Advisors Group LLC’s holdings in Lockheed Martin were worth $27,885,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc boosted its holdings in Lockheed Martin by 0.9% during the third quarter. Vanguard Group Inc now owns 21,266,343 shares of the aerospace company’s stock worth $7,357,305,000 after purchasing an additional 199,456 shares during the last quarter. Walter & Keenan Financial Consulting Co. MI ADV boosted its holdings in Lockheed Martin by 17.5% during the fourth quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 1,346 shares of the aerospace company’s stock worth $352,000 after purchasing an additional 200 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Lockheed Martin by 12.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 42,733 shares of the aerospace company’s stock worth $11,189,000 after purchasing an additional 4,674 shares during the last quarter. Arrow Financial Corp boosted its holdings in Lockheed Martin by 17.4% during the fourth quarter. Arrow Financial Corp now owns 2,295 shares of the aerospace company’s stock worth $600,000 after purchasing an additional 340 shares during the last quarter. Finally, IndexIQ Advisors LLC boosted its holdings in Lockheed Martin by 56.2% during the fourth quarter. IndexIQ Advisors LLC now owns 20,617 shares of the aerospace company’s stock worth $5,398,000 after purchasing an additional 7,418 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.
LMT has been the subject of several recent research reports. ValuEngine cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. Morgan Stanley increased their target price on shares of Lockheed Martin from $300.00 to $324.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 13th. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price for the company in a report on Thursday, April 25th. UBS Group increased their target price on shares of Lockheed Martin from $365.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird increased their target price on shares of Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $355.13.
In other Lockheed Martin news, Director David B. Burritt sold 2,100 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $330.21, for a total value of $693,441.00. Following the completion of the sale, the director now owns 6,030 shares in the company, valued at $1,991,166.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.
Shares of LMT stock opened at $345.51 on Thursday. The firm has a market capitalization of $97.20 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.39 and a beta of 0.96. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 5.00. Lockheed Martin Co. has a one year low of $241.18 and a one year high of $358.63.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $1.70. The firm had revenue of $14.34 billion during the quarter, compared to analysts’ expectations of $12.48 billion. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.02 earnings per share. As a group, equities research analysts predict that Lockheed Martin Co. will post 20.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, May 31st. Lockheed Martin’s dividend payout ratio is currently 49.30%.
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.
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