Santa Barbara Asset Management buys $143,716,060 stake in Lockheed Martin Corporation (LMT)

Lockheed Martin Corporation (LMT) : Santa Barbara Asset Management scooped up 7,466 additional shares in Lockheed Martin Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 537,779 shares of Lockheed Martin Corporation which is valued at $143,716,060.Lockheed Martin Corporation makes up approximately 2.66% of Santa Barbara Asset Management’s portfolio.

Other Hedge Funds, Including , Capital International Investors reduced its stake in LMT by selling 14,400 shares or 0.33% in the most recent quarter. The Hedge Fund company now holds 4,313,529 shares of LMT which is valued at $1,117,937,311. Lockheed Martin Corporation makes up approx 1.62% of Capital International Investors’s portfolio.Premier Fund Managers Ltd reduced its stake in LMT by selling 2,278 shares or 16.39% in the most recent quarter. The Hedge Fund company now holds 11,622 shares of LMT which is valued at $2,989,992. Lockheed Martin Corporation makes up approx 2.25% of Premier Fund Managers Ltd’s portfolio.Vantage Investment Partners reduced its stake in LMT by selling 45,464 shares or 85.61% in the most recent quarter. The Hedge Fund company now holds 7,642 shares of LMT which is valued at $1,805,652. Lockheed Martin Corporation makes up approx 0.24% of Vantage Investment Partners’s portfolio.Meeder Asset Management Inc boosted its stake in LMT in the latest quarter, The investment management firm added 3,598 additional shares and now holds a total of 9,228 shares of Lockheed Martin Corporation which is valued at $2,148,186. Lockheed Martin Corporation makes up approx 0.19% of Meeder Asset Management Inc’s portfolio.

Lockheed Martin Corporation closed down -0.19 points or -0.07% at $263.09 with 11,97,134 shares getting traded on Monday. Post opening the session at $263.14, the shares hit an intraday low of $261.58 and an intraday high of $264.46 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Lockheed Martin Corporation reported $3.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.74 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $2.87. The company had revenue of $11551.00 million for the quarter, compared to analysts expectations of $11451.30 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.76 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. Company shares were Upgraded by Stifel on Nov 14, 2016 to ” Buy”, Firm has raised the Price Target to $ 290 from a previous price target of $260 .Company shares were Upgraded by Barclays on Nov 10, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 275 from a previous price target of $245 .Lockheed Martin Corporation was Upgraded by Deutsche Bank to ” Buy” on Nov 9, 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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