Ascent Group LLC Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

Ascent Group LLC raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,480 shares of the aerospace company’s stock after buying an additional 123 shares during the quarter. Ascent Group LLC’s holdings in Lockheed Martin were worth $4,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LMT. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $35,000. Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Lockheed Martin in the 4th quarter worth about $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the 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 transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 in the last 90 days. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of a number of research reports. Jefferies Financial Group cut their price objective on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a report on Wednesday, April 16th. Royal Bank of Canada cut Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Finally, Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Trading Down 0.2%

LMT opened at $469.27 on Friday. The business has a 50 day simple moving average of $461.70 and a two-hundred day simple moving average of $476.97. The firm has a market capitalization of $109.95 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

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.