SevenBridge Financial Group LLC Buys 804 Shares of Lockheed Martin Co. (NYSE:LMT)

SevenBridge Financial Group LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,019 shares of the aerospace company's stock after purchasing an additional 804 shares during the quarter. SevenBridge Financial Group LLC's holdings in Lockheed Martin were worth $3,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Proficio Capital Partners LLC grew its holdings in Lockheed Martin by 53,784.3% during 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 period. Charles Schwab Investment Management Inc. grew its stake in shares of Lockheed Martin by 17.9% during the 4th 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 period. Van ECK Associates Corp increased its holdings 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 worth $266,410,000 after acquiring an additional 507,312 shares in the last quarter. Wellington Management Group LLP raised its stake in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company's stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $77,376,000. Institutional investors own 74.19% of the company's stock.

Remove Ads

Lockheed Martin Price Performance

LMT stock traded up $4.28 during trading on Wednesday, hitting $452.92. 1,268,982 shares of the company's stock traded hands, compared to its average volume of 1,211,514. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The stock has a market capitalization of $106.61 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 2.07 and a beta of 0.43. The business has a fifty day simple moving average of $453.52 and a 200 day simple moving average of $507.80. 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 (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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

Insider Activity

In related news, VP Harry Edward Paul III sold 707 shares of the company'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 directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LMT. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company reissued an "equal weight" rating on shares of Lockheed Martin in a report on Monday, March 10th. Barclays dropped their price objective on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Susquehanna cut their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a report on Wednesday, January 29th. One 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $539.53.

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.