Lockheed Martin Corporation (NYSE:LMT) is Pacific Heights Asset Management LLC’s 10th Largest Position

by · The Cerbat Gem

Pacific Heights Asset Management LLC lowered its position in shares of Lockheed Martin Corporation (NYSE:LMT – Free Report) by 64.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 54,000 shares of the aerospace company’s stock after selling 99,000 shares during the quarter. Lockheed Martin comprises approximately 1.6% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 10th largest position. Pacific Heights Asset Management LLC’s holdings in Lockheed Martin were worth $24,122,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after acquiring an additional 1,986,600 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Lockheed Martin during the fourth quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC purchased a new stake in Lockheed Martin in the fourth quarter worth about $451,985,000. Capital Research Global Investors bought a new position in shares of Lockheed Martin in the fourth quarter worth about $229,987,000. Finally, Demars Financial Group LLC lifted its stake in shares of Lockheed Martin by 47,002.5% during the 4th quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company’s stock valued at $210,579,000 after buying an additional 432,423 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $463.31 on Friday. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a market cap of $108.55 billion, a PE ratio of 20.01, a P/E/G ratio of 1.61 and a beta of 0.28. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The business has a 50-day simple moving average of $470.89 and a two-hundred day simple moving average of $465.87.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LMT shares. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $541.80.

View Our Latest Stock Report on Lockheed Martin

About Lockheed Martin

(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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