Redmond Asset Management LLC Grows Stake in Lockheed Martin Co. (NYSE:LMT)

Redmond Asset Management LLC raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 84.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,400 shares of the aerospace company’s stock after purchasing an additional 2,937 shares during the period. Redmond Asset Management LLC’s holdings in Lockheed Martin were worth $3,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin in the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Lockheed Martin during the third quarter worth $40,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth about $35,000. Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin during the 3rd quarter worth about $42,000. Finally, Vestor Capital LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $46,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Wells Fargo & Company reduced their price target on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Barclays cut their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley dropped their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Up 1.1 %

NYSE:LMT opened at $441.20 on Friday. The firm has a market capitalization of $103.86 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The stock has a 50 day moving average of $469.94 and a 200-day moving average of $528.97. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is 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.