Tompkins Financial Corp cut its stake in Lockheed Martin Co. (NYSE:LMT) by 4.6% during the first quarter, HoldingsChannel.com reports. The fund owned 1,487 shares of the aerospace company’s stock after selling 71 shares during the quarter. Tompkins Financial Corp’s holdings in Lockheed Martin were worth $447,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. PFG Advisors purchased a new position in shares of Lockheed Martin in the 4th quarter valued at $886,000. California Public Employees Retirement System boosted its position in shares of Lockheed Martin by 40.6% in 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 in the last quarter. Schulhoff & Co. Inc. boosted its position in shares of Lockheed Martin by 1.6% in 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 in the last quarter. EFG Asset Management Americas Corp. boosted its position in shares of Lockheed Martin by 70.7% in 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 in the last quarter. Finally, Eastern Bank boosted its position in shares of 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 purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.
In other Lockheed Martin news, VP Brian P. Colan sold 4,000 shares of Lockheed Martin stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $304.56, for a total transaction of $1,218,240.00. Following the completion of the sale, the vice president now owns 2,489 shares of the company’s stock, valued at approximately $758,049.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David B. Burritt sold 2,100 shares of Lockheed Martin stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total value of $693,441.00. Following the sale, the director now directly owns 6,030 shares of the company’s stock, valued at approximately $1,991,166.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,949 shares of company stock valued at $22,403,743. 0.35% of the stock is currently owned by insiders.
Shares of LMT opened at $341.35 on Friday. Lockheed Martin Co. has a one year low of $241.18 and a one year high of $351.35. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 5.00. The stock has a market cap of $95.88 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.35 and a beta of 1.04.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, topping the Zacks’ consensus estimate of $4.29 by $1.70. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The company had revenue of $14.34 billion during the quarter, compared to analysts’ expectations of $12.48 billion. During the same quarter in the previous year, the firm posted $4.02 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 20.53 earnings per share for the current 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 given a dividend of $2.20 per share. The ex-dividend date is Friday, May 31st. This represents a $8.80 dividend on an annualized basis and a yield of 2.58%. Lockheed Martin’s dividend payout ratio is currently 49.30%.
A number of research firms have recently weighed in on LMT. Bank of America reissued a “buy” rating and issued a $400.00 price objective (up previously from $390.00) on shares of Lockheed Martin in a research report on Wednesday, April 24th. ValuEngine raised Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Robert W. Baird raised their price objective on Lockheed Martin from $326.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. UBS Group raised their price objective on Lockheed Martin from $365.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Cowen reissued a “buy” rating and issued a $360.00 price objective on shares of Lockheed Martin in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $352.31.
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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