Summit Securities Group LLC Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Summit Securities Group LLC bought a new position in Lockheed Martin Co. (NYSE:LMT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,400 shares of the aerospace company's stock, valued at approximately $680,000.

A number of other institutional investors have also recently made changes to their positions in the company. Virtue Capital Management LLC boosted its holdings in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock worth $1,315,000 after acquiring an additional 1,192 shares during the period. Hilltop Holdings Inc. grew its holdings 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 purchasing an additional 5,361 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of 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 worth $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC raised 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 valued at $44,770,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Brady Martz Wealth Solutions LLC bought a new stake in Lockheed Martin during the fourth quarter valued at approximately $1,266,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

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Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the business'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 sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last 90 days. Corporate insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LMT. Royal Bank of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Lockheed Martin in a report on Monday, March 10th. Finally, Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. One equities 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's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $539.53.

Lockheed Martin Stock Up 1.1 %

Shares of NYSE:LMT traded up $5.05 during trading on Wednesday, hitting $453.69. The stock had a trading volume of 547,184 shares, compared to its average volume of 1,207,275. The company has a market capitalization of $106.79 billion, a PE ratio of 20.38, a PEG ratio of 2.07 and a beta of 0.43. The firm's fifty day moving average is $454.45 and its 200 day moving average is $508.19. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. 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 announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. Analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.91%. Lockheed Martin's dividend payout ratio is currently 59.30%.

About Lockheed Martin

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.