Pinebridge Investments L.P. Purchases 46,933 Shares of Lockheed Martin Co. (NYSE:LMT)

Pinebridge Investments L.P. grew its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 56.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,788 shares of the aerospace company's stock after purchasing an additional 46,933 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.06% of Lockheed Martin worth $63,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after buying an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock worth $2,374,557,000 after acquiring an additional 59,597 shares during the period. Invesco Ltd. grew its position in shares of Lockheed Martin by 17.5% during the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock worth $1,035,989,000 after purchasing an additional 318,007 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Lockheed Martin by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company's stock valued at $847,361,000 after purchasing an additional 15,085 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Lockheed Martin by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock worth $619,369,000 after purchasing an additional 70,516 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 2.4 %

NYSE:LMT traded up $11.01 during midday trading on Friday, hitting $477.82. 1,521,067 shares of the company traded hands, compared to its average volume of 1,251,287. The firm has a market capitalization of $112.08 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.07 and a beta of 0.39. The firm's fifty day moving average is $454.80 and its 200-day moving average is $493.33. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.76%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent analyst reports. StockNews.com upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating in a research report on Wednesday. UBS Group lifted their price target on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a "buy" rating to a "hold" rating and reduced their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $544.79.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by insiders.

Lockheed Martin 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.