Summit Financial LLC Purchases 344 Shares of Lockheed Martin Co. (NYSE:LMT)

Summit Financial LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,863 shares of the aerospace company’s stock after purchasing an additional 344 shares during the quarter. Summit Financial LLC’s holdings in Lockheed Martin were worth $2,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Proficio Capital Partners LLC increased its holdings in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after buying an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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 in the last quarter. Van ECK Associates Corp raised its holdings 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. Wellington Management Group LLP lifted its position in Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Lockheed Martin during the fourth quarter valued at about $77,376,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 1.2 %

LMT stock opened at $446.81 on Tuesday. The firm has a market cap of $105.17 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The firm has a fifty day moving average price of $455.61 and a 200 day moving average price of $509.05. 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 fifty-two week low of $419.70 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results 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%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on LMT. Barclays decreased their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley dropped their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Finally, Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. One 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $539.53.

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.