Hilltop Holdings Inc. boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 212.1% in the 1st quarter, HoldingsChannel reports. The fund owned 11,625 shares of the aerospace company’s stock after buying an additional 7,900 shares during the period. Hilltop Holdings Inc.’s holdings in Lockheed Martin were worth $3,929,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Silvant Capital Management LLC purchased a new position in Lockheed Martin during the first quarter valued at $114,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in shares of Lockheed Martin in the 1st quarter worth $116,000. Bray Capital Advisors purchased a new position in shares of Lockheed Martin in the 1st quarter worth $127,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in shares of Lockheed Martin by 55.2% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 450 shares of the aerospace company’s stock worth $152,000 after buying an additional 160 shares in the last quarter. Finally, Dubuque Bank & Trust Co. grew its stake in shares of Lockheed Martin by 400.9% in the 1st quarter. Dubuque Bank & Trust Co. now owns 586 shares of the aerospace company’s stock worth $198,000 after buying an additional 469 shares in the last quarter. 77.96% of the stock is owned by institutional investors.
LMT has been the subject of a number of recent research reports. Morgan Stanley reissued an “overweight” rating and issued a $388.00 price objective (up from $382.00) on shares of Lockheed Martin in a research note on Friday, February 23rd. Cowen reissued a “hold” rating and issued a $370.00 price objective on shares of Lockheed Martin in a research note on Tuesday, April 24th. Barclays initiated coverage on shares of Lockheed Martin in a research note on Thursday, March 29th. They issued an “equal weight” rating and a $369.00 price objective for the company. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $369.00 price objective for the company in a research note on Friday, April 27th. Finally, Credit Suisse Group dropped their price objective on shares of Lockheed Martin from $380.00 to $335.00 and set a “neutral” rating for the company in a research note on Tuesday, May 22nd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $371.26.
Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 24th. The aerospace company reported $4.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.35 by $0.67. The firm had revenue of $11.64 billion during the quarter, compared to analyst estimates of $11.25 billion. Lockheed Martin had a net margin of 4.64% and a return on equity of 608.95%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $3.00 EPS. research analysts forecast that Lockheed Martin Co. will post 16.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 1st will be issued a $2.00 dividend. The ex-dividend date is Thursday, May 31st. This represents a $8.00 annualized dividend and a dividend yield of 2.54%. Lockheed Martin’s dividend payout ratio (DPR) is presently 60.02%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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