Gotham Asset Management LLC increased its stake in Lockheed Martin Co. (NYSE:LMT – Free Report) by 14.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,558 shares of the aerospace company’s stock after acquiring an additional 3,970 shares during the quarter. Gotham Asset Management LLC’s holdings in Lockheed Martin were worth $12,906,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its holdings in shares of Lockheed Martin by 81,305.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock valued at $927,896,000 after buying an additional 1,904,985 shares in the last quarter. Osaic Holdings Inc. grew its stake in Lockheed Martin by 426.6% in the second quarter. Osaic Holdings Inc. now owns 1,203,558 shares of the aerospace company’s stock valued at $104,767,000 after purchasing an additional 975,012 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Lockheed Martin by 586.8% in the first quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company’s stock worth $163,097,000 after buying an additional 315,700 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lockheed Martin by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,256,069 shares of the aerospace company’s stock worth $2,320,030,000 after buying an additional 264,665 shares during the last quarter. Finally, Imprint Wealth LLC acquired a new stake in shares of Lockheed Martin in the second quarter worth about $21,499,000. 74.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Morgan Stanley reduced their price target on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada reduced their price target on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. Susquehanna cut their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. Finally, UBS Group cut their price objective on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $491.92.
Lockheed Martin Stock Performance
LMT traded up $2.05 on Wednesday, hitting $432.48. 995,820 shares of the stock traded hands, compared to its average volume of 1,163,535. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $508.10. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $104.50 billion, a PE ratio of 15.70, a P/E/G ratio of 3.92 and a beta of 0.49. The business has a fifty day moving average price of $440.77 and a two-hundred day moving average price of $439.75.
Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The company had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. During the same period in the prior year, the company posted $7.79 EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, research analysts predict that Lockheed Martin Co. will post 26.19 EPS for the current fiscal year.
Lockheed Martin Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a dividend of $3.15 per share. The ex-dividend date is Thursday, February 29th. This represents a $12.60 dividend on an annualized basis and a yield of 2.91%. Lockheed Martin’s dividend payout ratio is 45.74%.
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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.