Cubic Asset Management LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,862 shares of the aerospace company’s stock, valued at approximately $1,011,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Horan Securities Inc. raised its stake in shares of Lockheed Martin by 600.0% in the 4th quarter. Horan Securities Inc. now owns 126 shares of the aerospace company’s stock valued at $35,000 after acquiring an additional 108 shares in the last quarter. North Star Investment Management Corp. grew its holdings in shares of Lockheed Martin by 43.5% during the 4th quarter. North Star Investment Management Corp. now owns 165 shares of the aerospace company’s stock worth $43,000 after purchasing an additional 50 shares in the last quarter. RPG Investment Advisory LLC grew its holdings in shares of Lockheed Martin by 76.5% during the 4th quarter. RPG Investment Advisory LLC now owns 173 shares of the aerospace company’s stock worth $45,000 after purchasing an additional 75 shares in the last quarter. NuWave Investment Management LLC grew its holdings in shares of Lockheed Martin by 2,075.0% during the 4th quarter. NuWave Investment Management LLC now owns 174 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 166 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $48,000. 77.76% of the stock is owned by institutional investors.
LMT has been the subject of several research analyst reports. Credit Suisse Group lifted their price objective on Lockheed Martin from $340.00 to $368.00 and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $391.00 price objective for the company in a research report on Thursday, October 4th. Morgan Stanley set a $386.00 price objective on Lockheed Martin and gave the stock a “buy” rating in a research report on Thursday, October 11th. Goldman Sachs Group upgraded Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and upped their target price for the stock from $391.00 to $394.00 in a report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $351.39.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $4.39. The company had revenue of $14.41 billion for the quarter, compared to analyst estimates of $13.75 billion. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned ($2.25) earnings per share. Equities research analysts predict that Lockheed Martin Co. will post 19.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 3.02%. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.
In other news, VP Bruce L. Tanner sold 11,203 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the transaction, the vice president now owns 79,770 shares in the company, valued at $24,608,247.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.35% of the stock is currently owned by company insiders.
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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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