Cypress Asset Management Inc. TX Has $3.94 Million Holdings in Lockheed Martin Co. (LMT)

Cypress Asset Management Inc. TX lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 6.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,027 shares of the aerospace company’s stock after selling 1,095 shares during the quarter. Lockheed Martin makes up approximately 1.5% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 22nd largest holding. Cypress Asset Management Inc. TX’s holdings in Lockheed Martin were worth $3,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Man Group plc lifted its position in shares of Lockheed Martin by 63.0% in the third quarter. Man Group plc now owns 70,260 shares of the aerospace company’s stock worth $24,307,000 after buying an additional 27,160 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Lockheed Martin by 277.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 26,952 shares of the aerospace company’s stock worth $9,324,000 after buying an additional 19,808 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Lockheed Martin by 40.6% in the fourth quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock worth $339,041,000 after buying an additional 373,997 shares during the last quarter. Schulhoff & Co. Inc. lifted its position in shares of Lockheed Martin by 1.6% in the fourth quarter. Schulhoff & Co. Inc. now owns 13,088 shares of the aerospace company’s stock worth $3,427,000 after buying an additional 205 shares during the last quarter. Finally, Eastern Bank lifted its position in shares of Lockheed Martin by 0.6% in the fourth quarter. Eastern Bank now owns 11,919 shares of the aerospace company’s stock worth $3,120,000 after buying an additional 74 shares during the last quarter. 78.34% of the stock is owned by institutional investors.

In related news, EVP Richard F. Ambrose sold 6,647 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $301.34, for a total transaction of $2,003,006.98. Following the transaction, the executive vice president now directly owns 4,218 shares in the company, valued at $1,271,052.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michele A. Evans sold 7,690 shares of the business’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $298.78, for a total value of $2,297,618.20. Following the transaction, the insider now owns 7,690 shares in the company, valued at $2,297,618.20. The disclosure for this sale can be found here. Insiders have sold 85,186 shares of company stock worth $26,010,927 over the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Lockheed Martin stock opened at $296.15 on Friday. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $361.99. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.91 and a current ratio of 1.12. The stock has a market capitalization of $83.68 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 2.24 and a beta of 1.02.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $4.39. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The firm had revenue of $14.41 billion for the quarter, compared to analyst estimates of $13.75 billion. During the same period in the previous year, the company posted ($2.25) earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that Lockheed Martin Co. will post 19.42 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be paid a dividend of $2.20 per share. The ex-dividend date is Thursday, February 28th. This represents a $8.80 annualized dividend and a yield of 2.97%. Lockheed Martin’s dividend payout ratio is 49.30%.

A number of equities analysts have recently commented on the company. Susquehanna Bancshares assumed coverage on Lockheed Martin in a research note on Thursday, January 10th. They issued a “positive” rating and a $321.00 price objective on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $274.00 price objective on shares of Lockheed Martin in a research note on Wednesday, January 9th. Morgan Stanley lowered Lockheed Martin from an “overweight” rating to an “equal weight” rating and set a $300.00 price objective on the stock. in a research note on Wednesday, January 9th. Robert W. Baird reiterated a “buy” rating and issued a $326.00 price objective on shares of Lockheed Martin in a research note on Friday, December 21st. Finally, Bank of America reiterated a “buy” rating and issued a $390.00 price objective on shares of Lockheed Martin in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Lockheed Martin has a consensus rating of “Buy” and a consensus price target of $350.00.

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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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

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