Bank of New York Mellon Corp Has $847.36 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Bank of New York Mellon Corp raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,743,757 shares of the aerospace company’s stock after acquiring an additional 15,085 shares during the quarter. Bank of New York Mellon Corp’s holdings in Lockheed Martin were worth $847,361,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th. Susquehanna decreased their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Barclays cut their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. One research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $448.34 on Wednesday. The firm has a market cap of $105.53 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The business’s 50 day moving average is $468.06 and its 200-day moving average is $527.23. 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 Co. has a 1-year low of $419.70 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Equities research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 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.