Lockheed Martin Corp. (LMT) is Archon Partners LLC’s 5th Largest Position
Archon Partners LLC cut its stake in shares of Lockheed Martin Corp. (NYSE:LMT) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,790 shares of the company’s stock after selling 210 shares during the period. Lockheed Martin Corp. accounts for about 3.4% of Archon Partners LLC’s portfolio, making the stock its 5th largest position. Archon Partners LLC’s holdings in Lockheed Martin Corp. were worth $12,605,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Nuveen Asset Management LLC boosted its stake in Lockheed Martin Corp. by 32.4% in the first quarter. Nuveen Asset Management LLC now owns 70,076 shares of the company’s stock valued at $15,522,000 after buying an additional 17,146 shares during the last quarter. Williams Jones & Associates LLC acquired a new stake in Lockheed Martin Corp. during the first quarter valued at $185,000. Silvercrest Asset Management Group LLC boosted its stake in Lockheed Martin Corp. by 2.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 28,399 shares of the company’s stock valued at $6,290,000 after buying an additional 625 shares during the last quarter. Steinberg Global Asset Management boosted its stake in Lockheed Martin Corp. by 1.2% in the first quarter. Steinberg Global Asset Management now owns 25,603 shares of the company’s stock valued at $5,671,000 after buying an additional 315 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Lockheed Martin Corp. during the first quarter valued at $375,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded up 0.74% during midday trading on Friday, hitting $259.17. The stock had a trading volume of 2,002,930 shares. Lockheed Martin Corp. has a 52-week low of $200.47 and a 52-week high of $266.93. The company’s 50 day moving average is $240.51 and its 200 day moving average is $244.39. The company has a market cap of $75.93 billion, a PE ratio of 15.16 and a beta of 0.65.
Lockheed Martin Corp. (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 25th. The company reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.75. The firm earned $11.60 billion during the quarter, compared to analyst estimates of $11.49 billion. Lockheed Martin Corp. had a return on equity of 131.23% and a net margin of 10.48%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.76 earnings per share. On average, analysts anticipate that Lockheed Martin Corp. will post $12.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be given a $1.82 dividend. This is an increase from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, November 29th. Lockheed Martin Corp.’s payout ratio is currently 39.19%.
Several analysts have weighed in on LMT shares. Zacks Investment Research raised Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $288.00 price target on the stock in a report on Monday, July 18th. Drexel Hamilton reaffirmed a “buy” rating and issued a $284.00 price target on shares of Lockheed Martin Corp. in a report on Wednesday, July 20th. Argus raised their price target on Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $255.00 price target (up previously from $225.00) on shares of Lockheed Martin Corp. in a report on Friday, July 22nd. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Lockheed Martin Corp. in a report on Wednesday, August 3rd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $261.78.
Lockheed Martin Corp. Company Profile
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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