Blue Fin Capital Inc. lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 6.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,368 shares of the aerospace company’s stock after buying an additional 473 shares during the quarter. Lockheed Martin comprises about 0.9% of Blue Fin Capital Inc.’s investment portfolio, making the stock its 29th biggest position. Blue Fin Capital Inc.’s holdings in Lockheed Martin were worth $2,722,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of LMT. Key Financial Inc acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $26,000. Veritas Investment Partners UK Ltd. acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $26,000. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $29,000. Encompass Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $29,000. Finally, Better Money Decisions LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter worth about $31,000. Institutional investors own 77.00% of the company’s stock.
In other Lockheed Martin news, COO John Frank A. St sold 6,855 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $371.95, for a total transaction of $2,549,717.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maryanne Lavan sold 5,406 shares of the business’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $383.84, for a total transaction of $2,075,039.04. Insiders have sold a total of 15,707 shares of company stock worth $5,925,208 over the last three months. Insiders own 0.17% of the company’s stock.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.32 by $0.24. The company had revenue of $16.26 billion for the quarter, compared to analyst estimates of $16.42 billion. Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $6.08 EPS. Equities analysts predict that Lockheed Martin Co. will post 24.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Tuesday, June 1st will be issued a dividend of $2.60 per share. This represents a $10.40 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, May 28th. Lockheed Martin’s payout ratio is 47.38%.
A number of analysts have recently issued reports on LMT shares. Morgan Stanley raised their target price on shares of Lockheed Martin from $445.00 to $458.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 27th. Credit Suisse Group dropped their price objective on shares of Lockheed Martin from $351.00 to $334.00 in a research note on Wednesday, January 27th. Cowen reiterated a “buy” rating and issued a $410.00 price objective on shares of Lockheed Martin in a research note on Thursday, April 22nd. Wolfe Research started coverage on shares of Lockheed Martin in a research note on Friday, April 9th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company started coverage on shares of Lockheed Martin in a research note on Wednesday. They issued an “equal weight” rating and a $384.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $422.80.
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, Rotary and Mission Systems, and Space.
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