Sitrin Capital Management LLC Purchases 43 Shares of Lockheed Martin Co. (NYSE:LMT)

Sitrin Capital Management LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,373 shares of the aerospace company’s stock after purchasing an additional 43 shares during the quarter. Lockheed Martin makes up approximately 2.3% of Sitrin Capital Management LLC’s holdings, making the stock its 27th largest holding. Sitrin Capital Management LLC’s holdings in Lockheed Martin were worth $4,555,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $26,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $35,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin in the third quarter worth $40,000. Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the third quarter valued at $42,000. Finally, Vestor Capital LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LMT shares. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Susquehanna lowered their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. dropped 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Price Performance

NYSE LMT opened at $448.34 on Wednesday. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The stock has a 50-day moving average of $468.06 and a 200 day moving average of $527.23. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a market capitalization of $105.53 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.07 and a beta of 0.48.

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

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.94%. Lockheed Martin’s 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.