M&R Capital Management Inc. trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 69.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273 shares of the aerospace company’s stock after selling 610 shares during the period. M&R Capital Management Inc.’s holdings in Lockheed Martin were worth $100,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of LMT. Key Financial Inc acquired a new stake in Lockheed Martin in the 4th quarter valued at about $26,000. Veritas Investment Partners UK Ltd. acquired a new stake in Lockheed Martin in the 4th quarter valued at about $26,000. TRU Independence Asset Management 2 LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $29,000. Encompass Wealth Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $29,000. Finally, ForthRight Wealth Management LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $35,000. Institutional investors own 77.00% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group cut their target price on shares of Lockheed Martin from $351.00 to $334.00 in a research note on Wednesday, January 27th. Robert W. Baird downgraded shares of Lockheed Martin from an “outperform” rating to a “neutral” rating and cut their target price for the company from $420.00 to $368.00 in a research note on Thursday, January 7th. Finally, Morgan Stanley lowered their price target on shares of Lockheed Martin from $480.00 to $445.00 and set an “overweight” rating on the stock in a report on Monday, February 8th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $423.00.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Monday, January 25th. The aerospace company reported $6.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $6.41 by ($0.03). Lockheed Martin had a return on equity of 173.43% and a net margin of 10.18%. The business had revenue of $17.03 billion for the quarter, compared to the consensus estimate of $16.92 billion. During the same period in the prior year, the business posted $5.29 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts predict that Lockheed Martin Co. will post 24.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Monday, March 1st were issued a dividend of $2.60 per share. The ex-dividend date was Friday, February 26th. This represents a $10.40 annualized dividend and a dividend yield of 2.75%. Lockheed Martin’s dividend payout ratio is presently 47.38%.
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, Rotary and Mission Systems, and Space.
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