Bessemer Group Inc. Sells 7,150 Shares of Lockheed Martin Corporation (NYSE:LMT)

Bessemer Group Inc. reduced its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 41.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,219 shares of the aerospace company's stock after selling 7,150 shares during the period. Bessemer Group Inc.'s holdings in Lockheed Martin were worth $4,564,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin in the 4th quarter worth about $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin in the 4th quarter worth about $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin in the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Lockheed Martin in the 4th quarter worth about $42,000. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Jefferies Financial Group cut their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company cut their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird raised Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective for the company in a report on Wednesday, April 23rd. Finally, UBS Group boosted their price objective on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Nine investment 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 MarketBeat.com, Lockheed Martin currently has a consensus rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Price Performance

LMT opened at $458.59 on Friday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The stock has a market capitalization of $107.45 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.60 and a beta of 0.29. The stock's 50 day moving average price is $470.80 and its 200-day moving average price is $466.78.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The firm had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. On average, equities research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.88%. Lockheed Martin's payout ratio is 57.02%.

Lockheed Martin Profile

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.

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