Cullinan Associates Inc. Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Cullinan Associates Inc. reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,542 shares of the aerospace company’s stock after selling 4,632 shares during the period. Cullinan Associates Inc.’s holdings in Lockheed Martin were worth $10,468,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Virtue Capital Management LLC grew its position in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares in the last quarter. Bank of Montreal Can increased its position in shares of Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the period. Hilltop Holdings Inc. raised its holdings in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Old West Investment Management LLC lifted its position in shares of Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after buying an additional 1,643 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMT has been the topic of several recent research reports. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group reduced their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. TD Cowen upped their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Trading Down 1.5 %

LMT stock opened at $455.85 on Tuesday. The business has a fifty day moving average of $492.29 and a 200-day moving average of $537.32. The company has a market cap of $107.30 billion, a P/E ratio of 20.48, a PEG ratio of 2.96 and a beta of 0.48. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities research analysts expect that Lockheed Martin Co. will post 27.29 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.90%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

About Lockheed Martin

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.