Grassi Investment Management Lowers stake in Lockheed Martin Corporation (LMT)

Lockheed Martin Corporation (LMT) : Grassi Investment Management reduced its stake in Lockheed Martin Corporation by 2.78% during the most recent quarter end. The investment management company now holds a total of 33,205 shares of Lockheed Martin Corporation which is valued at $7,698,579 after selling 950 shares in Lockheed Martin Corporation , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Lockheed Martin Corporation makes up approximately 1.48% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , British Columbia Investment Management Corp reduced its stake in LMT by selling 26,036 shares or 18.32% in the most recent quarter. The Hedge Fund company now holds 116,115 shares of LMT which is valued at $26,921,263. Lockheed Martin Corporation makes up approx 0.28% of British Columbia Investment Management Corp’s portfolio.Hudson Valley Investment Advisors Inc Adv boosted its stake in LMT in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 4,216 shares of Lockheed Martin Corporation which is valued at $983,551. Lockheed Martin Corporation makes up approx 0.30% of Hudson Valley Investment Advisors Inc Adv’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in LMT in the latest quarter, The investment management firm added 3,287 additional shares and now holds a total of 65,605 shares of Lockheed Martin Corporation which is valued at $15,304,990. Lockheed Martin Corporation makes up approx 0.33% of Oregon Public Employees Retirement Fund’s portfolio.Nepsis Capital Management boosted its stake in LMT in the latest quarter, The investment management firm added 862 additional shares and now holds a total of 24,716 shares of Lockheed Martin Corporation which is valued at $5,765,996. Lockheed Martin Corporation makes up approx 3.08% of Nepsis Capital Management’s portfolio.

Lockheed Martin Corporation closed down -1.44 points or -0.62% at $231.85 with 10,60,698 shares getting traded on Tuesday. Post opening the session at $233, the shares hit an intraday low of $231.6415 and an intraday high of $233.63 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Lockheed Martin Corporation reported $3.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.39 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $2.93. The company had revenue of $12914.00 million for the quarter, compared to analysts expectations of $12576.52 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS.

Investors should note that on Sep 22, 2016, Lockheed Martin Corporation announced a cash dividend of $1.8200. The company’s management has announced Nov 29, 2016 as the ex-dividend date and fixed the record date on Dec 1, 2016. The payable date has been fixed on Dec 30, 2016.

Many Wall Street Analysts have commented on Lockheed Martin Corporation. Lockheed Martin Corporation was Upgraded by Wells Fargo to ” Outperform” on Sep 19, 2016. Lockheed Martin Corporation was Resumed by Citigroup to “Buy” on Sep 6, 2016. JP Morgan Initiated Lockheed Martin Corporation on Aug 25, 2016 to “Neutral”, Price Target of the shares are set at $284.

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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