Abner Herrman & Brock LLC Has $16.80 Million Position in Lockheed Martin Co. (NYSE:LMT)

Abner Herrman & Brock LLC decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,573 shares of the aerospace company’s stock after selling 1,196 shares during the quarter. Lockheed Martin comprises approximately 3.8% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 8th largest position. Abner Herrman & Brock LLC’s holdings in Lockheed Martin were worth $16,803,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Legacy Bridge LLC increased its stake in shares of Lockheed Martin by 6.3% in the 1st quarter. Legacy Bridge LLC now owns 1,139 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 68 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Lockheed Martin by 1.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 3,815 shares of the aerospace company’s stock valued at $1,350,000 after acquiring an additional 57 shares in the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Lockheed Martin in the 1st quarter valued at $4,029,000. Contravisory Investment Management Inc. increased its stake in shares of Lockheed Martin by 5.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 13,924 shares of the aerospace company’s stock valued at $4,720,000 after acquiring an additional 725 shares in the last quarter. Finally, Hexavest Inc. bought a new stake in shares of Lockheed Martin in the 1st quarter valued at $20,514,000. Hedge funds and other institutional investors own 79.93% of the company’s stock.

A number of analysts have commented on LMT shares. Buckingham Research boosted their price target on shares of Lockheed Martin from $450.00 to $507.00 and gave the company a “buy” rating in a research note on Friday, February 7th. UBS Group boosted their price target on shares of Lockheed Martin from $440.00 to $470.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Susquehanna Bancshares boosted their price target on shares of Lockheed Martin from to and gave the company a “buy” rating in a research note on Wednesday, January 29th. Alembic Global Advisors lowered shares of Lockheed Martin from an “overweight” rating to a “neutral” rating and set a $489.00 price target for the company. in a research note on Wednesday, January 29th. Finally, Argus boosted their price target on shares of Lockheed Martin to and gave the company a “buy” rating in a research note on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $433.88.

In other Lockheed Martin news, CEO Marillyn A. Hewson sold 22,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $436.12, for a total transaction of $9,594,640.00. Following the sale, the chief executive officer now directly owns 55,554 shares of the company’s stock, valued at $24,228,210.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michele A. Evans sold 9,629 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $432.22, for a total transaction of $4,161,846.38. Following the sale, the executive vice president now directly owns 9,629 shares in the company, valued at $4,161,846.38. The disclosure for this sale can be found here. Insiders sold a total of 39,793 shares of company stock worth $17,313,473 over the last three months. 0.17% of the stock is owned by insiders.

Shares of NYSE:LMT traded up $9.59 during midday trading on Thursday, reaching $371.00. The company had a trading volume of 1,629,066 shares, compared to its average volume of 1,843,596. The company’s 50 day moving average price is $360.28 and its 200 day moving average price is $388.37. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 3.60. The stock has a market cap of $100.09 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.14 and a beta of 0.96. Lockheed Martin Co. has a 52-week low of $266.11 and a 52-week high of $442.53.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $5.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.03 by $0.26. The company had revenue of $15.88 billion for the quarter, compared to the consensus estimate of $15.28 billion. Lockheed Martin had a net margin of 10.42% and a return on equity of 198.95%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.39 EPS. Research analysts forecast that Lockheed Martin Co. will post 24.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 2nd were issued a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, February 28th. Lockheed Martin’s dividend payout ratio (DPR) is currently 43.74%.

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

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