Tufton Capital Management Sells 574 Shares of Lockheed Martin Co. (NYSE:LMT)

Tufton Capital Management reduced its stake in shares of Lockheed Martin Co. (NYSE:LMTGet Rating) by 1.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,870 shares of the aerospace company’s stock after selling 574 shares during the period. Lockheed Martin makes up about 2.5% of Tufton Capital Management’s holdings, making the stock its 8th largest position. Tufton Capital Management’s holdings in Lockheed Martin were worth $15,391,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its stake in Lockheed Martin by 1.6% in the 4th quarter. BlackRock Inc. now owns 17,560,981 shares of the aerospace company’s stock valued at $6,241,348,000 after purchasing an additional 274,160 shares during the last quarter. Capital World Investors increased its position in Lockheed Martin by 9.4% during the 4th quarter. Capital World Investors now owns 13,462,533 shares of the aerospace company’s stock worth $4,784,686,000 after purchasing an additional 1,152,397 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,991,404 shares of the aerospace company’s stock worth $1,773,996,000 after purchasing an additional 212,470 shares in the last quarter. Capital Research Global Investors increased its position in Lockheed Martin by 16.1% during the 4th quarter. Capital Research Global Investors now owns 3,288,398 shares of the aerospace company’s stock worth $1,168,730,000 after purchasing an additional 456,524 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Lockheed Martin by 0.5% in the 4th quarter. Northern Trust Corp now owns 2,543,681 shares of the aerospace company’s stock worth $904,049,000 after acquiring an additional 12,424 shares during the period. Institutional investors own 78.89% of the company’s stock.

Shares of LMT stock opened at $415.25 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.27 and a quick ratio of 1.07. The firm has a market cap of $110.50 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.84 and a beta of 0.73. The stock’s fifty day simple moving average is $432.35 and its 200 day simple moving average is $416.99. Lockheed Martin Co. has a one year low of $324.23 and a one year high of $479.99.

Lockheed Martin (NYSE:LMTGet Rating) last released its earnings results on Tuesday, April 19th. The aerospace company reported $6.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.22 by $0.22. The company had revenue of $14.96 billion during the quarter, compared to the consensus estimate of $15.49 billion. Lockheed Martin had a return on equity of 81.35% and a net margin of 9.45%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.56 earnings per share. On average, research analysts anticipate that Lockheed Martin Co. will post 26.84 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be paid a $2.80 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $11.20 dividend on an annualized basis and a yield of 2.70%. Lockheed Martin’s payout ratio is 49.47%.

Several research firms have recently commented on LMT. Wells Fargo & Company increased their target price on Lockheed Martin from $486.00 to $496.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 20th. Susquehanna Bancshares raised their price objective on Lockheed Martin from $515.00 to $539.00 in a research note on Wednesday, April 20th. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 25th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Lockheed Martin in a research report on Tuesday, April 19th. Finally, Argus raised their price target on Lockheed Martin from $415.00 to $500.00 in a report on Wednesday, April 20th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $448.86.

In other Lockheed Martin news, Director John Donovan bought 568 shares of the firm’s stock in a transaction on Thursday, April 21st. The stock was purchased at an average cost of $440.55 per share, with a total value of $250,232.40. Following the completion of the purchase, the director now owns 568 shares in the company, valued at $250,232.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Lockheed Martin Company Profile (Get Rating)

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

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