Lockheed Martin Co. (NYSE:LMT) Stake Boosted by Pitcairn Co.

Pitcairn Co. lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,548 shares of the aerospace company's stock after acquiring an additional 604 shares during the period. Pitcairn Co.'s holdings in Lockheed Martin were worth $4,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at approximately $1,840,000. Erste Asset Management GmbH purchased a new position in shares of Lockheed Martin during the 3rd quarter worth $82,000. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin during the 3rd quarter worth $26,000. Investment Management Corp of Ontario boosted its holdings in shares of Lockheed Martin by 47.3% during the third quarter. Investment Management Corp of Ontario now owns 7,164 shares of the aerospace company's stock worth $4,188,000 after purchasing an additional 2,300 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in shares of Lockheed Martin by 9.4% in the third quarter. IHT Wealth Management LLC now owns 7,514 shares of the aerospace company's stock valued at $4,405,000 after purchasing an additional 643 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Up 0.3 %

Shares of NYSE:LMT traded up $1.21 during mid-day trading on Thursday, hitting $454.08. 1,813,627 shares of the company traded hands, compared to its average volume of 1,215,720. The firm's 50 day simple moving average is $452.66 and its 200 day simple moving average is $507.43. The firm has a market cap of $106.52 billion, a P/E ratio of 20.40, a PEG ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

Remove Ads

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.91%. Lockheed Martin's payout ratio is currently 59.30%.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research analyst reports. StockNews.com lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Tuesday. Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Morgan Stanley decreased 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 report on Wednesday, January 29th. Finally, Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of "Hold" and a consensus price target of $539.53.

Insider Activity

In other 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 transaction of $312,925.27. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 over the last ninety days. Corporate insiders own 0.17% of the company's stock.

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.