Forum Financial Management LP Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Forum Financial Management LP increased its position in Lockheed Martin Co. (NYSE:LMT) by 0.9% in the 4th quarter, HoldingsChannel reports. The fund owned 4,511 shares of the aerospace company’s stock after purchasing an additional 40 shares during the period. Forum Financial Management LP’s holdings in Lockheed Martin were worth $2,192,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in LMT. Proficio Capital Partners LLC increased its holdings in Lockheed Martin by 53,784.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after acquiring an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Lockheed Martin in the 4th quarter worth about $526,587,000. Leigh Baldwin & CO. LLC bought a new position in Lockheed Martin in the 4th quarter worth about $451,985,000. Finally, Van ECK Associates Corp boosted its stake 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 purchasing an additional 507,312 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $469.27 on Friday. The company has a market cap of $109.95 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a 50-day moving average price of $461.70 and a 200-day moving average price of $477.48. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. Lockheed Martin’s payout ratio is 57.02%.

Insider Buying and Selling

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value 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 $1,008,265.58. The trade was a 23.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 in the last quarter. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on LMT. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their target price on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a research note on Wednesday, April 16th. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Jefferies Financial Group cut their target price on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Monday, April 28th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

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.