BNP Paribas Arbitrage SA raised its stake in Lockheed Martin Co. (NYSE:LMT – Get Rating) by 46.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 240,911 shares of the aerospace company’s stock after purchasing an additional 75,907 shares during the period. BNP Paribas Arbitrage SA owned 0.09% of Lockheed Martin worth $106,338,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Connors Investor Services Inc. bought a new stake in shares of Lockheed Martin in the 1st quarter worth about $335,000. Golden State Equity Partners bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $783,000. Range Financial Group LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $561,000. Eubel Brady & Suttman Asset Management Inc. grew its position in shares of Lockheed Martin by 9.2% during the 1st quarter. Eubel Brady & Suttman Asset Management Inc. now owns 46,668 shares of the aerospace company’s stock valued at $20,600,000 after buying an additional 3,949 shares during the last quarter. Finally, Nomura Holdings Inc. grew its position in shares of Lockheed Martin by 50.5% during the 1st quarter. Nomura Holdings Inc. now owns 6,890 shares of the aerospace company’s stock valued at $3,073,000 after buying an additional 2,313 shares during the last quarter. Institutional investors own 75.50% of the company’s stock.
Insider Activity at Lockheed Martin
In related news, EVP Gregory M. Ulmer sold 6,929 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John Donovan purchased 632 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were acquired at an average price of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the acquisition, the director now directly owns 1,200 shares of the company’s stock, valued at $475,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Ulmer sold 6,929 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Lockheed Martin Trading Down 2.2 %
Lockheed Martin (NYSE:LMT – Get Rating) last issued its quarterly earnings results on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. The company had revenue of $15.45 billion during the quarter, compared to analyst estimates of $16.02 billion. During the same period in the prior year, the company posted $7.13 earnings per share. The company’s revenue was down 9.3% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Co. will post 26.8 earnings per share for the current fiscal year.
Lockheed Martin Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be paid a dividend of $2.80 per share. This represents a $11.20 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, August 31st. Lockheed Martin’s dividend payout ratio is presently 64.81%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. Morgan Stanley lowered their price objective on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Finally, Royal Bank of Canada began coverage on shares of Lockheed Martin in a research report on Monday, August 29th. They set a “sector perform” rating and a $460.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $448.92.
Lockheed Martin Company 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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