Vestpro Financial Partners Inc. dba CPF Texas cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 71.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,330 shares of the aerospace company’s stock after selling 3,372 shares during the quarter. Vestpro Financial Partners Inc. dba CPF Texas’ holdings in Lockheed Martin were worth $449,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Silvant Capital Management LLC acquired a new position in Lockheed Martin during the first quarter worth $114,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in Lockheed Martin during the first quarter worth $116,000. Bray Capital Advisors acquired a new position in Lockheed Martin during the first quarter worth $127,000. Trilogy Capital Inc. acquired a new position in Lockheed Martin during the first quarter worth $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Lockheed Martin by 55.2% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 450 shares of the aerospace company’s stock worth $152,000 after purchasing an additional 160 shares during the last quarter. 77.87% of the stock is owned by hedge funds and other institutional investors.
LMT has been the subject of a number of analyst reports. TheStreet raised Lockheed Martin from a “c” rating to a “b-” rating in a report on Tuesday, April 24th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $369.00 price target for the company in a report on Friday, April 27th. Barclays initiated coverage on Lockheed Martin in a report on Thursday, March 29th. They issued an “equal weight” rating and a $369.00 price target for the company. ValuEngine cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Finally, Cowen reissued a “hold” rating and issued a $370.00 price target on shares of Lockheed Martin in a report on Tuesday, April 24th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $371.26.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 24th. The aerospace company reported $4.02 EPS for the quarter, beating the Zacks’ consensus estimate of $3.35 by $0.67. The business had revenue of $11.64 billion during the quarter, compared to the consensus estimate of $11.25 billion. Lockheed Martin had a return on equity of 608.95% and a net margin of 4.64%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.00 earnings per share. research analysts anticipate that Lockheed Martin Co. will post 16.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 1st will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, May 31st. Lockheed Martin’s dividend payout ratio is currently 60.02%.
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 (MFC), Rotary and Mission Systems (RMS), and Space.
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