FCG Investment Co Lowers Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• FCG Investment Co significantly reduced its holdings in Lockheed Martin by 67%, leaving it with 1,730 shares valued at $773,000.
• Despite the reductions by some investors, Charles Schwab Investment Management increased its stake by 7.5%, now owning over 8 million shares valued at approximately $3.6 billion.
• Lockheed Martin recently reported an earnings per share (EPS) of $7.29, exceeding analysts' expectations, and announced a quarterly dividend of $3.30, yielding 3.0% annually.

FCG Investment Co decreased its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 67.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,730 shares of the aerospace company's stock after selling 3,505 shares during the quarter. FCG Investment Co's holdings in Lockheed Martin were worth $773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after purchasing an additional 560,457 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after purchasing an additional 134,662 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Lockheed Martin by 0.6% in the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Lockheed Martin by 41,104.9% in the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Lockheed Martin by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock valued at $580,317,000 after purchasing an additional 24,512 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $437.78 on Friday. The business's 50 day moving average is $451.63 and its two-hundred day moving average is $456.76. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The firm has a market cap of $102.20 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.54 and a beta of 0.27. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the company posted $7.11 EPS. Lockheed Martin's quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is 74.32%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird reduced their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Jefferies Financial Group reduced their price target on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Finally, Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Fifteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $506.65.

Lockheed Martin Company 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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