Lockheed Martin Co. (LMT) Holdings Cut by Legal & General Group Plc

Legal & General Group Plc lessened its position in Lockheed Martin Co. (NYSE:LMT) by 7.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,101,543 shares of the aerospace company’s stock after selling 94,086 shares during the period. Legal & General Group Plc owned 0.39% of Lockheed Martin worth $372,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Northern Trust Corp grew its holdings in Lockheed Martin by 0.7% in the 1st quarter. Northern Trust Corp now owns 3,308,122 shares of the aerospace company’s stock worth $1,117,914,000 after acquiring an additional 24,273 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Lockheed Martin by 10.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,260,085 shares of the aerospace company’s stock worth $763,751,000 after acquiring an additional 208,727 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in Lockheed Martin by 17.0% in the 1st quarter. OppenheimerFunds Inc. now owns 1,874,975 shares of the aerospace company’s stock worth $633,610,000 after acquiring an additional 271,768 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Lockheed Martin by 17.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,556,620 shares of the aerospace company’s stock worth $526,029,000 after acquiring an additional 229,017 shares during the last quarter. Finally, Thomaspartners Inc. grew its holdings in Lockheed Martin by 0.4% in the 1st quarter. Thomaspartners Inc. now owns 806,642 shares of the aerospace company’s stock worth $272,589,000 after acquiring an additional 3,447 shares during the last quarter. 77.87% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the stock. Cowen reaffirmed a “hold” rating and issued a $370.00 target price on shares of Lockheed Martin in a research report on Tuesday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $388.00 target price (up from $382.00) on shares of Lockheed Martin in a research report on Friday, February 23rd. Barclays assumed coverage on shares of Lockheed Martin in a research report on Thursday, March 29th. They issued an “equal weight” rating and a $369.00 target price for the company. Zacks Investment Research cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, TheStreet raised shares of Lockheed Martin from a “c” rating to a “b-” rating in a research report on Tuesday, April 24th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Lockheed Martin presently has a consensus rating of “Hold” and a consensus price target of $371.26.



NYSE LMT traded down $1.98 during trading hours on Monday, reaching $308.16. 456,727 shares of the company’s stock traded hands, compared to its average volume of 1,187,627. Lockheed Martin Co. has a 52-week low of $274.69 and a 52-week high of $363.00. The stock has a market cap of $88.55 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 2.63 and a beta of 0.71. The company has a debt-to-equity ratio of -121.38, a current ratio of 1.27 and a quick ratio of 1.05.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 24th. The aerospace company reported $4.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.35 by $0.67. Lockheed Martin had a net margin of 4.64% and a return on equity of 608.95%. The company had revenue of $11.64 billion during the quarter, compared to analysts’ expectations of $11.25 billion. During the same period last year, the company posted $3.00 EPS. Lockheed Martin’s revenue was up 3.8% on a year-over-year basis. research analysts expect that Lockheed Martin Co. will post 16.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Investors of record on Friday, June 1st will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $8.00 dividend on an annualized basis and a yield of 2.60%. Lockheed Martin’s dividend payout ratio (DPR) is currently 60.02%.

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

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