Gabelli Funds LLC Has $5.53 Million Position in Lockheed Martin Co. (NYSE:LMT)

Gabelli Funds LLC lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,378 shares of the aerospace company's stock after purchasing an additional 1,000 shares during the quarter. Gabelli Funds LLC's holdings in Lockheed Martin were worth $5,529,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Proficio Capital Partners LLC grew its position in shares of Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock valued at $600,412,000 after purchasing an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock valued at $3,630,492,000 after acquiring an additional 1,132,461 shares during the last quarter. Van ECK Associates Corp raised its stake in Lockheed Martin by 1,239.6% in the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company's stock valued at $266,410,000 after purchasing an additional 507,312 shares during the last quarter. Invesco Ltd. lifted its holdings in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after purchasing an additional 318,007 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $77,376,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company's stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LMT has been the topic of a number of recent analyst reports. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. UBS Group lowered their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Finally, Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of "Hold" and an average price target of $539.93.

Lockheed Martin Stock Performance

LMT stock traded down $3.56 during mid-day trading on Tuesday, reaching $454.77. The company had a trading volume of 870,017 shares, compared to its average volume of 1,245,194. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95. The stock's 50-day simple moving average is $452.57 and its two-hundred day simple moving average is $494.72. The stock has a market capitalization of $106.68 billion, a P/E ratio of 20.36, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The business had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.90%. Lockheed Martin's payout ratio is 59.30%.

Lockheed Martin Company Profile

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.