Life Planning Partners Inc acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,015 shares of the aerospace company's stock, valued at approximately $4,867,000.
Several other hedge funds have also modified their holdings of LMT. Virtue Capital Management LLC increased its holdings in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock worth $1,315,000 after purchasing an additional 1,192 shares during the period. Hilltop Holdings Inc. increased its stake in shares of Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock worth $7,054,000 after buying an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock valued at $4,630,000 after acquiring an additional 3,247 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock worth $44,770,000 after acquiring an additional 2,011 shares during the last quarter. Finally, Brady Martz Wealth Solutions LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $1,266,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Lockheed Martin Stock Performance
NYSE LMT traded up $4.65 during trading hours on Wednesday, hitting $453.29. 588,564 shares of the stock were exchanged, compared to its average volume of 1,207,446. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The stock has a 50-day moving average of $454.45 and a 200 day moving average of $508.19. The company has a market cap of $106.70 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.
Lockheed Martin Announces Dividend
The firm also recently declared 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's dividend payout ratio is presently 59.30%.
Analysts Set New Price Targets
A number of equities analysts recently commented on LMT shares. Susquehanna lowered their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a research note on Wednesday, January 29th. Royal Bank of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Morgan Stanley dropped their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Lockheed Martin in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $539.53.
Get Our Latest Analysis on Lockheed Martin
Insider Transactions at Lockheed Martin
In related news, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 over the last quarter. 0.17% of the stock is currently owned by insiders.
About Lockheed Martin
(
Free Report)
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.
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