Cornerstone Advisors LLC Sells 8,000 Shares of Lockheed Martin Co. (NYSE:LMT)

Cornerstone Advisors LLC lessened its position in shares of Lockheed Martin Co. (NYSE:LMTFree Report) by 25.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,000 shares of the aerospace company’s stock after selling 8,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in Lockheed Martin were worth $9,406,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp grew its position in shares of Lockheed Martin by 0.5% in the first quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock valued at $17,950,761,000 after purchasing an additional 176,739 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lockheed Martin by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock valued at $2,302,388,000 after buying an additional 97,916 shares in the last quarter. Geode Capital Management LLC grew its stake in Lockheed Martin by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,451,163 shares of the aerospace company’s stock worth $2,045,055,000 after buying an additional 106,461 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Lockheed Martin by 2.4% during the third quarter. Bank of New York Mellon Corp now owns 1,973,771 shares of the aerospace company’s stock worth $807,193,000 after acquiring an additional 46,890 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in Lockheed Martin by 81,305.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock worth $927,896,000 after purchasing an additional 1,904,985 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Lockheed Martin Stock Up 0.7 %

Shares of NYSE LMT traded up $3.06 during mid-day trading on Monday, reaching $429.56. 511,341 shares of the company’s stock were exchanged, compared to its average volume of 1,145,217. The firm has a market capitalization of $103.80 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 3.89 and a beta of 0.49. 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 business has a fifty day simple moving average of $446.01 and a 200 day simple moving average of $441.71. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $508.10.

Lockheed Martin (NYSE:LMTGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The firm had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $17.96 billion. During the same period last year, the company earned $7.79 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts expect that Lockheed Martin Co. will post 26.24 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be issued a $3.15 dividend. The ex-dividend date is Thursday, February 29th. This represents a $12.60 annualized dividend and a yield of 2.93%. Lockheed Martin’s dividend payout ratio is presently 45.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LMT. Citigroup cut their price target on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. Susquehanna dropped their price target on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. Finally, UBS Group reduced their price objective on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $491.92.

View Our Latest Stock Analysis on LMT

About Lockheed Martin

(Free Report)

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.

See Also

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

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