NorthCoast Asset Management LLC Buys 2,059 Shares of Lockheed Martin Co. (NYSE:LMT)

NorthCoast Asset Management LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,923 shares of the aerospace company’s stock after acquiring an additional 2,059 shares during the quarter. NorthCoast Asset Management LLC’s holdings in Lockheed Martin were worth $7,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Amundi Asset Management US Inc. grew its stake in shares of Lockheed Martin by 1.4% in the first quarter. Amundi Asset Management US Inc. now owns 31,514 shares of the aerospace company’s stock worth $11,644,000 after acquiring an additional 428 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of Lockheed Martin by 31.2% in the first quarter. Deprince Race & Zollo Inc. now owns 76,799 shares of the aerospace company’s stock worth $28,377,000 after acquiring an additional 18,255 shares during the period. Verition Fund Management LLC bought a new stake in shares of Lockheed Martin in the first quarter worth approximately $203,000. Loomis Sayles & Co. L P grew its stake in shares of Lockheed Martin by 310.1% in the first quarter. Loomis Sayles & Co. L P now owns 124,693 shares of the aerospace company’s stock worth $46,074,000 after acquiring an additional 94,285 shares during the period. Finally, Cornerstone Capital Inc. grew its stake in shares of Lockheed Martin by 52.9% in the first quarter. Cornerstone Capital Inc. now owns 1,063 shares of the aerospace company’s stock worth $393,000 after acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 75.56% of the company’s stock.

In other news, CFO Kenneth R. Possenriede sold 2,787 shares of the business’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $387.53, for a total value of $1,080,046.11. Following the transaction, the chief financial officer now owns 1 shares of the company’s stock, valued at $387.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard F. Ambrose sold 3,446 shares of the business’s stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $377.38, for a total transaction of $1,300,451.48. The disclosure for this sale can be found here. Insiders sold 13,088 shares of company stock worth $4,930,215 in the last three months. Insiders own 0.18% of the company’s stock.

NYSE:LMT traded down $1.24 during trading hours on Thursday, hitting $379.65. 10,877 shares of the stock traded hands, compared to its average volume of 927,860. The company has a current ratio of 1.38, a quick ratio of 1.15 and a debt-to-equity ratio of 1.84. Lockheed Martin Co. has a 1 year low of $319.81 and a 1 year high of $402.38. The stock has a market capitalization of $105.52 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 3.11 and a beta of 0.99. The firm has a 50 day moving average of $383.35.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share for the quarter, beating the consensus estimate of $6.32 by $0.24. Lockheed Martin had a net margin of 10.53% and a return on equity of 134.40%. The business had revenue of $16.26 billion for the quarter, compared to the consensus estimate of $16.42 billion. During the same quarter in the previous year, the firm earned $6.08 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 26.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Stockholders of record on Wednesday, September 1st will be issued a $2.60 dividend. This represents a $10.40 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is presently 41.87%.

Several brokerages recently issued reports on LMT. Cowen restated a “buy” rating and set a $410.00 target price on shares of Lockheed Martin in a research report on Thursday, April 22nd. Wells Fargo & Company began coverage on shares of Lockheed Martin in a research report on Tuesday, May 18th. They set an “equal weight” rating and a $384.00 target price for the company. Morgan Stanley boosted their target price on shares of Lockheed Martin from $445.00 to $458.00 and gave the company an “overweight” rating in a research report on Wednesday, April 21st. Finally, Wolfe Research began coverage on shares of Lockheed Martin in a research report on Friday, April 9th. They set a “peer perform” rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Lockheed Martin currently has an average rating of “Buy” and an average price target of $402.57.

Lockheed Martin Company Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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