Lazard Asset Management LLC Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Lazard Asset Management LLC increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 22.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,391 shares of the aerospace company’s stock after purchasing an additional 17,583 shares during the period. Lazard Asset Management LLC’s holdings in Lockheed Martin were worth $46,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its holdings in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after buying an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after buying an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $526,587,000. Leigh Baldwin & CO. LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $451,985,000. Finally, Van ECK Associates Corp increased its holdings in Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after buying an additional 507,312 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. Susquehanna decreased their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group cut their price target on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Stock Performance

LMT opened at $473.12 on Tuesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a fifty day moving average price of $462.09 and a 200 day moving average price of $481.59. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95. The stock has a market cap of $110.85 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Equities research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s dividend payout ratio is presently 57.02%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.14% of the company’s stock.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.