Tufton Capital Management Lowers Position in Lockheed Martin Co. (NYSE:LMT)

Tufton Capital Management lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,561 shares of the aerospace company’s stock after selling 603 shares during the period. Lockheed Martin comprises approximately 2.0% of Tufton Capital Management’s holdings, making the stock its 13th biggest holding. Tufton Capital Management’s holdings in Lockheed Martin were worth $9,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in Lockheed Martin by 0.5% during the first quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock valued at $17,950,761,000 after acquiring an additional 176,739 shares during the period. Vanguard Group Inc. grew its holdings in shares of Lockheed Martin by 1.3% during the 3rd 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 during the period. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 1.8% during 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 purchasing an additional 97,916 shares in the last quarter. Wellington Management Group LLP raised its holdings in Lockheed Martin by 4.0% in the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after buying an additional 121,358 shares during the period. Finally, Northern Trust Corp lifted its position in Lockheed Martin by 4.0% during the third quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock valued at $976,751,000 after buying an additional 91,109 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.0 %

LMT stock traded up $0.22 during midday trading on Thursday, hitting $456.27. 172,153 shares of the company’s stock were exchanged, compared to its average volume of 1,149,968. The firm has a 50 day moving average price of $438.66 and a 200-day moving average price of $442.12. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $503.33. The stock has a market capitalization of $109.73 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 4.14 and a beta of 0.48. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.26 by $0.64. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The business had revenue of $18.87 billion during the quarter, compared to analyst estimates of $17.96 billion. During the same quarter in the previous year, the firm earned $7.79 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Lockheed Martin Co. will post 26.13 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $3.15 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $12.60 dividend on an annualized basis and a yield of 2.76%. Lockheed Martin’s dividend payout ratio (DPR) is 45.74%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock valued at $7,249,946 over the last three months. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LMT shares. Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price target for the company from $475.00 to $518.00 in a report on Monday. Morgan Stanley cut their price objective on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Citigroup decreased their target price on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada dropped their target price on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $493.36.

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.