Bessemer Group Inc. Has $14.56 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Bessemer Group Inc. lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 83.1% during the first quarter, Holdings Channel reports. The firm owned 32,017 shares of the aerospace company’s stock after selling 157,598 shares during the period. Bessemer Group Inc.’s holdings in Lockheed Martin were worth $14,563,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LMT. Hudock Inc. boosted its position in Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after purchasing an additional 22 shares during the period. Norris Perne & French LLP MI grew its stake in shares of Lockheed Martin by 2.8% in the fourth quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock worth $410,000 after acquiring an additional 25 shares during the last quarter. Genesee Capital Advisors LLC raised its stake in Lockheed Martin by 2.8% during the 4th quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock valued at $419,000 after purchasing an additional 25 shares during the last quarter. Hunter Associates Investment Management LLC boosted its holdings in Lockheed Martin by 1.3% in the 4th quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock valued at $912,000 after purchasing an additional 25 shares during the period. Finally, Missouri Trust & Investment Co grew its position in Lockheed Martin by 19.8% in the 4th quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock worth $68,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT stock traded up $6.95 during trading hours on Thursday, hitting $522.15. 597,763 shares of the stock were exchanged, compared to its average volume of 1,075,053. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $526.69. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $125.28 billion, a P/E ratio of 19.11, a P/E/G ratio of 4.67 and a beta of 0.46. The company has a 50-day simple moving average of $467.28 and a two-hundred day simple moving average of $452.98.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 90.61%. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period last year, the firm earned $6.73 earnings per share. Lockheed Martin’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts forecast that Lockheed Martin Co. will post 26.43 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.41%. Lockheed Martin’s payout ratio is 46.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LMT shares. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $480.00 to $560.00 in a research report on Wednesday. UBS Group increased their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $487.00 to $540.00 and gave the stock a “hold” rating in a research note on Wednesday. Susquehanna boosted their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday. Finally, StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and a consensus target price of $513.45.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.