Cypress Asset Management Inc. TX decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,027 shares of the aerospace company’s stock after selling 1,095 shares during the period. Lockheed Martin accounts for 1.5% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 22nd largest position. Cypress Asset Management Inc. TX’s holdings in Lockheed Martin were worth $3,935,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lederer & Associates Investment Counsel CA increased its position in Lockheed Martin by 0.7% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 5,149 shares of the aerospace company’s stock valued at $1,348,000 after acquiring an additional 35 shares during the period. Physicians Financial Services Inc. increased its position in Lockheed Martin by 0.8% in the 4th quarter. Physicians Financial Services Inc. now owns 4,795 shares of the aerospace company’s stock valued at $1,256,000 after acquiring an additional 37 shares during the period. FTB Advisors Inc. increased its position in Lockheed Martin by 6.1% in the 4th quarter. FTB Advisors Inc. now owns 683 shares of the aerospace company’s stock valued at $178,000 after acquiring an additional 39 shares during the period. Brasada Capital Management LP increased its position in Lockheed Martin by 2.3% in the 4th quarter. Brasada Capital Management LP now owns 1,806 shares of the aerospace company’s stock valued at $473,000 after acquiring an additional 40 shares during the period. Finally, Polaris Greystone Financial Group LLC increased its position in Lockheed Martin by 5.1% in the 4th quarter. Polaris Greystone Financial Group LLC now owns 911 shares of the aerospace company’s stock valued at $239,000 after acquiring an additional 44 shares during the period. 78.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of LMT stock opened at $296.15 on Friday. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $361.99. The firm has a market cap of $83.68 billion, a PE ratio of 16.59, a PEG ratio of 2.24 and a beta of 1.02. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.91 and a current ratio of 1.12.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $4.39. The company had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $13.75 billion. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm earned ($2.25) EPS. As a group, research analysts expect that Lockheed Martin Co. will post 19.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, February 28th. Lockheed Martin’s payout ratio is 49.30%.
Several analysts recently commented on the company. Zacks Investment Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 14th. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Bank of America reiterated a “buy” rating and set a $390.00 price target on shares of Lockheed Martin in a research report on Wednesday, January 30th. Jefferies Financial Group reiterated a “hold” rating and set a $274.00 price target on shares of Lockheed Martin in a research report on Wednesday, January 9th. Finally, Susquehanna Bancshares started coverage on Lockheed Martin in a research report on Thursday, January 10th. They set a “positive” rating and a $321.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $350.00.
In related news, insider Michele A. Evans sold 7,690 shares of Lockheed Martin stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $298.78, for a total value of $2,297,618.20. Following the transaction, the insider now directly owns 7,690 shares in the company, valued at approximately $2,297,618.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard F. Ambrose sold 6,647 shares of Lockheed Martin stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $301.34, for a total value of $2,003,006.98. Following the completion of the transaction, the executive vice president now owns 4,218 shares in the company, valued at $1,271,052.12. The disclosure for this sale can be found here. Insiders sold a total of 85,186 shares of company stock worth $26,010,927 over the last 90 days. Insiders own 0.35% of the company’s stock.
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Lockheed Martin Company 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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