Eaton Vance Management Decreases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Eaton Vance Management cut its stake in Lockheed Martin Co. (NYSE:LMT) by 15.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,743 shares of the aerospace company’s stock after selling 44,212 shares during the period. Eaton Vance Management owned about 0.09% of Lockheed Martin worth $91,172,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Lockheed Martin by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 4,141,309 shares of the aerospace company’s stock worth $1,526,520,000 after buying an additional 73,845 shares during the last quarter. Morgan Stanley lifted its holdings in Lockheed Martin by 15.8% during the 1st quarter. Morgan Stanley now owns 4,018,123 shares of the aerospace company’s stock worth $1,484,697,000 after buying an additional 546,951 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Lockheed Martin by 4.9% during the 1st quarter. Ameriprise Financial Inc. now owns 2,630,721 shares of the aerospace company’s stock worth $972,175,000 after buying an additional 122,509 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Lockheed Martin by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,598,091 shares of the aerospace company’s stock worth $959,995,000 after buying an additional 49,887 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Lockheed Martin by 28.8% in the 1st quarter. Franklin Resources Inc. now owns 2,555,481 shares of the aerospace company’s stock valued at $944,253,000 after purchasing an additional 571,986 shares during the last quarter. Hedge funds and other institutional investors own 75.56% of the company’s stock.

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

NYSE LMT opened at $380.89 on Thursday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.38 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $383.35. Lockheed Martin Co. has a 12-month low of $319.81 and a 12-month high of $402.38. The firm has a market cap of $105.86 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 3.11 and a beta of 0.99.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Wednesday, September 1st will be given a dividend of $2.60 per share. This represents a $10.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, August 31st. Lockheed Martin’s payout ratio is 41.87%.

In related news, CFO Kenneth R. Possenriede sold 2,787 shares of the company’s stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $387.53, for a total value of $1,080,046.11. Following the sale, the chief financial officer now owns 1 shares in the company, valued at approximately $387.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard F. Ambrose sold 3,446 shares of the company’s stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $377.38, for a total value of $1,300,451.48. The disclosure for this sale can be found here. Insiders have sold a total of 13,088 shares of company stock worth $4,930,215 in the last quarter. 0.18% of the stock is currently owned by insiders.

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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