Lockheed Martin Co. (NYSE:LMT) Position Lowered by Eaton Vance Management

Eaton Vance Management decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 15.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 246,743 shares of the aerospace company’s stock after selling 44,212 shares during the period. Eaton Vance Management’s holdings in Lockheed Martin were worth $91,172,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. TRU Independence Asset Management 2 LLC bought a new position in Lockheed Martin in the fourth quarter worth about $29,000. Encompass Wealth Advisors LLC bought a new position in Lockheed Martin in the fourth quarter worth about $29,000. Better Money Decisions LLC bought a new position in Lockheed Martin in the first quarter worth about $31,000. Paradigm Strategies in Wealth Management LLC bought a new position in Lockheed Martin in the first quarter worth about $37,000. Finally, Cowa LLC bought a new stake in shares of Lockheed Martin during the first quarter valued at approximately $39,000. 75.56% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on LMT. Wolfe Research began coverage on Lockheed Martin in a report on Friday, April 9th. They set a “peer perform” rating on the stock. Cowen reaffirmed a “buy” rating and set a $410.00 price target on shares of Lockheed Martin in a report on Thursday, April 22nd. Morgan Stanley raised their price objective on shares of Lockheed Martin from $445.00 to $458.00 and gave the company an “overweight” rating in a research note on Wednesday, April 21st. Finally, Wells Fargo & Company began coverage on shares of Lockheed Martin in a research note on Tuesday, May 18th. They set an “equal weight” rating and a $384.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Lockheed Martin has an average rating of “Buy” and an average price target of $402.57.

In related news, CFO Kenneth R. Possenriede sold 2,787 shares of the firm’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $387.53, for a total value of $1,080,046.11. Following the completion of the transaction, the chief financial officer now owns 1 shares of the company’s stock, valued at approximately $387.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard F. Ambrose sold 3,446 shares of the firm’s stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $377.38, for a total transaction of $1,300,451.48. The disclosure for this sale can be found here. Insiders sold a total of 13,088 shares of company stock valued at $4,930,215 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Lockheed Martin stock opened at $380.89 on Thursday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.15 and a current ratio of 1.38. The firm has a market capitalization of $105.86 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 3.11 and a beta of 0.99. Lockheed Martin Co. has a 1 year low of $319.81 and a 1 year high of $402.38. The business has a 50 day simple moving average of $383.35.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.32 by $0.24. Lockheed Martin had a net margin of 10.53% and a return on equity of 134.40%. The firm had revenue of $16.26 billion for the quarter, compared to analyst estimates of $16.42 billion. During the same quarter in the previous year, the business posted $6.08 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts predict that Lockheed Martin Co. will post 26.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Wednesday, September 1st will be paid a $2.60 dividend. This represents a $10.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, August 31st. Lockheed Martin’s dividend payout ratio is 41.87%.

Lockheed Martin Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

Further Reading: What is cost of equity?

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).

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

Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.