Bessemer Group Inc Lowers stake in Lockheed Martin Corporation (LMT)

Lockheed Martin Corporation (LMT) : Bessemer Group Inc reduced its stake in Lockheed Martin Corporation by 1.93% during the most recent quarter end. The investment management company now holds a total of 1,104,648 shares of Lockheed Martin Corporation which is valued at $267.5 Million after selling 21,783 shares in Lockheed Martin Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Lockheed Martin Corporation makes up approximately 1.54% of Bessemer Group Inc’s portfolio.

Other Hedge Funds, Including , Farmers National Bank reduced its stake in LMT by selling 30 shares or 2.44% in the most recent quarter. The Hedge Fund company now holds 1,202 shares of LMT which is valued at $291,028. Lockheed Martin Corporation makes up approx 0.19% of Farmers National Bank’s portfolio. Penserra Capital Management added LMT to its portfolio by purchasing 267 company shares during the most recent quarter which is valued at $64,646. Lockheed Martin Corporation makes up approx 0.01% of Penserra Capital Management’s portfolio.Janney Capital Management boosted its stake in LMT in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 2,520 shares of Lockheed Martin Corporation which is valued at $610,142. Lockheed Martin Corporation makes up approx 0.03% of Janney Capital Management’s portfolio. Benedict Financial Advisors Inc added LMT to its portfolio by purchasing 3,223 company shares during the most recent quarter which is valued at $774,358. Lockheed Martin Corporation makes up approx 0.47% of Benedict Financial Advisors Inc’s portfolio. Liberty Capital Management added LMT to its portfolio by purchasing 1,160 company shares during the most recent quarter which is valued at $269,561. Lockheed Martin Corporation makes up approx 0.21% of Liberty Capital Management’s portfolio.

Lockheed Martin Corporation opened for trading at $241.21 and hit $243.994 on the upside on Monday, eventually ending the session at $242.97, with a gain of 0.35% or 0.85 points. The heightened volatility saw the trading volume jump to 9,21,153 shares. Company has a market cap of $73,973 M.

On the company’s financial health, Lockheed Martin Corporation reported $2.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $2.61. The company had revenue of $11702.00 million for the quarter, compared to analysts expectations of $11384.05 million. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.74 EPS.

Investors should note that on Apr 27, 2016, Lockheed Martin Corporation announced a cash dividend of $1.6500. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 24, 2016.

Many Wall Street Analysts have commented on Lockheed Martin Corporation. Lockheed Martin Corporation was Downgraded by Stifel to ” Hold” on May 13, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Underweight”, Firm has raised the Price Target to $ 225 from a previous price target of $215 .Lockheed Martin Corporation was Initiated by Berenberg to “Buy” on Mar 17, 2016.

Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research design development manufacture integration and sustainment of advanced technology systems products and services. The Company operates in five segments: Aeronautics Information Systems & Global Solutions (IS&GS) Missiles and Fire Control (MFC) Mission Systems and Training (MST) and Space Systems. The Company provides a range of management engineering technical scientific logistics and information services. The Company’s areas of focus are in defense space intelligence homeland security and information technology including cyber security. It serves both the United States and international customers with products and services that have defense civil and commercial applications.

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