Lockheed Martin Co. (NYSE:LMT) Shares Bought by Patten & Patten Inc. TN

Patten & Patten Inc. TN boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,087 shares of the aerospace company’s stock after acquiring an additional 72 shares during the period. Patten & Patten Inc. TN’s holdings in Lockheed Martin were worth $1,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in shares of Lockheed Martin during the third quarter worth about $780,000. Natixis Advisors LLC grew its holdings in shares of Lockheed Martin by 10.0% during the third quarter. Natixis Advisors LLC now owns 100,795 shares of the aerospace company’s stock worth $58,921,000 after buying an additional 9,152 shares in the last quarter. WESPAC Advisors SoCal LLC grew its holdings in shares of Lockheed Martin by 2.9% during the third quarter. WESPAC Advisors SoCal LLC now owns 3,756 shares of the aerospace company’s stock worth $2,195,000 after buying an additional 107 shares in the last quarter. Spinnaker Investment Group LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth about $243,000. Finally, Schear Investment Advisers LLC grew its holdings in shares of Lockheed Martin by 64.7% during the third quarter. Schear Investment Advisers LLC now owns 1,125 shares of the aerospace company’s stock worth $658,000 after buying an additional 442 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm’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 owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 in the last quarter. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.2 %

Lockheed Martin stock opened at $467.07 on Monday. The firm’s 50-day moving average is $461.39 and its 200-day moving average is $518.19. 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 Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a market cap of $109.94 billion, a P/E ratio of 20.98, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. On average, equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.83%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. UBS Group lowered their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $554.20.

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.