Gabelli Funds LLC Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Gabelli Funds LLC decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMTFree Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,850 shares of the aerospace company’s stock after selling 340 shares during the period. Gabelli Funds LLC’s holdings in Lockheed Martin were worth $3,105,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LMT. Vanguard Group Inc. boosted its position in Lockheed Martin by 1.3% in the third 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. Wellington Management Group LLP boosted its position 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 last quarter. Franklin Resources Inc. boosted its position in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after buying an additional 336,588 shares during the last quarter. Northern Trust Corp boosted its position in Lockheed Martin by 4.0% in 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 during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Lockheed Martin by 10,526.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after acquiring an additional 1,349,409 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.3 %

NYSE LMT opened at $470.13 on Friday. The business has a fifty day moving average price of $461.69 and a 200 day moving average price of $448.75. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The company has a market cap of $112.80 billion, a P/E ratio of 17.20, a P/E/G ratio of 4.42 and a beta of 0.47.

Lockheed Martin (NYSE:LMTGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 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 period in the prior year, the company earned $6.43 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. Research analysts anticipate that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analyst Ratings Changes

A number of research analysts have issued reports on LMT shares. Citigroup boosted their price target on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their price target on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $475.00 to $518.00 in a report on Monday, April 15th. Finally, UBS Group boosted their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and an average price target of $485.40.

Get Our Latest Stock Analysis on Lockheed Martin

Lockheed Martin Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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