Cullinan Associates Inc. Increases Position in Lockheed Martin Co. (NYSE:LMT)

Cullinan Associates Inc. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,811 shares of the aerospace company’s stock after buying an additional 539 shares during the period. Cullinan Associates Inc.’s holdings in Lockheed Martin were worth $12,650,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. International Assets Investment Management LLC raised its stake in Lockheed Martin by 10,526.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after buying an additional 1,349,409 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of Lockheed Martin during the first quarter worth $151,402,000. Vanguard Group Inc. increased its position in shares of Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after purchasing an additional 279,162 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Lockheed Martin by 91.8% in the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after acquiring an additional 274,680 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LMT shares. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Citigroup upped their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. UBS Group upped their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company upped their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Price Performance

Shares of LMT traded down $1.36 during mid-day trading on Tuesday, hitting $465.08. 120,134 shares of the company were exchanged, compared to its average volume of 1,086,871. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The company has a 50 day moving average of $464.84 and a 200-day moving average of $450.33. The stock has a market cap of $111.59 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. During the same quarter in the prior year, the firm earned $6.43 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts expect that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.71%. Lockheed Martin’s payout ratio is 46.10%.

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.