FineMark National Bank & Trust Has $11.52 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

FineMark National Bank & Trust lowered its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,426 shares of the aerospace company’s stock after selling 370 shares during the quarter. FineMark National Bank & Trust’s holdings in Lockheed Martin were worth $11,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Lockheed Martin by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after buying an additional 279,162 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lockheed Martin by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock worth $2,302,388,000 after acquiring an additional 97,916 shares during the period. Wellington Management Group LLP lifted its position in shares of Lockheed Martin by 4.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after acquiring an additional 121,358 shares during the period. Franklin Resources Inc. lifted its position in shares of Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after acquiring an additional 336,588 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Lockheed Martin by 4.0% in the 3rd quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock worth $976,751,000 after acquiring an additional 91,109 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT traded down $2.49 during trading on Thursday, hitting $467.22. The company’s stock had a trading volume of 420,311 shares, compared to its average volume of 1,084,248. The firm’s 50 day moving average price is $456.62 and its two-hundred day moving average price is $447.11. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50. The stock has a market capitalization of $112.10 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 4.41 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. 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 previous year, the company posted $6.43 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Sell-side analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a $3.15 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $12.60 annualized dividend and a yield of 2.70%. Lockheed Martin’s payout ratio is 46.10%.

Insider Activity

In other news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on LMT shares. UBS Group raised their price objective on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Wells Fargo & Company raised their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Finally, Morgan Stanley cut their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $485.40.

About Lockheed Martin

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.